Accountancy interview with Sir David Tweedie
18 Jan 2008
The January 2008 issue of Accountancy magazine includes an interview with IASB Chairman Sir David Tweedie titled Tweedie's Best of Breed.
- eliminating the IFRS reconciliation in the United States
- US consideration of allowing domestic companies to use IFRSs
- the recent ICAEW study that found widespread benefits of adoption of IFRSs in Europe
- progress on convergence with FASB
- success in engaging stakeholders in IASB's due process
- efforts to maintain the IASB 'brand' and ensure that assertions of compliance with IFRSs are made only when there is compliance with full uo-to-date IFRSs
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An excerpt from the Accountancy interview with Sir David Tweedie: [Removing the SEC's reconciliation requirement for IFRS filers in the USA] is not the only feather in the cap for the Scot who is helping to make the vision of a global set of reporting standards a reality. Something of a watershed year, 2007 also saw the 108th country sign up to International Financial Reporting Standards. And more are queuing up behind – Canada, Israel, Chile, Japan are waiting in the wings. "We reckon by about 2011 there'll be 150 – all the major economies", he announces triumphantly. Not only that, but the world's largest capital market, the US, is on the verge of coming on board – also by 2011, hopes Tweedie. "Six years ago, when we started, if someone said, 'Describe where you'll be in 2007', I wouldn't have described this. This is much, much better than we thought, and it's happened much, much faster – and that's indicative of the markets and globalisation in general." |
