This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB submission to the UK PCBS

  • United Kingdom Image
  • IASB (International Accounting Standards Board) (blue) Image

17 Jan 2013

On 16 January 2013, IASB Chairman Hans Hoogervorst addressed the UK Parliamentary Commission on Banking Standards' Panel on tax, audit and accounting.

The parliamentary commission, a joint committee of the House of Commons and the House of Lords, is preparing a report on how banks' governance and ethics need to change after the financial crisis and had issued a call for evidence on 4 December 2012. The IASB's position can be summed up by the quote "In sum, we do not support the notion that accounting standards led to a systemic bias to overly favourable financial statements in the banking industry." A written submission setting out the response of the IASB to all questions posed by the Committee's Panel on tax, audit and accounting can be downloaded from the IASB's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.