09 Mar 2001
Deloitte Touche Tohmatsu has published a 46 page book, Implementing Hong Kong GAAP: The Challenges for 2001, that highlights, for preparers of financial statements, the potential impact of six new Standards that are closely modelled on the equiivalent IAS.
SEC Chief Accountant Lynn Turner has written an article in the Financial Times on The 'Best of Breed' Standards: "Globalising accounting standards challenges the profession to fulfil its obligation to investors". .
SEC Chief Accountant Lynn Turner has written an article in the Financial Times on The 'Best of Breed' Standards: "Globalising accounting standards challenges the profession to fulfil its obligation to investors".
08 Mar 2001
The GAAP 2000 report can now be downloaded as a single 285k PDF file.
06 Mar 2001
The Chief Accountant of the SEC Division of Corporation Finance has provided some views on "accounting and disclosure issues that are sure to capture the attention of investors this year".
Ten new accounting standards based on IAS have been issued in Thailand.
03 Mar 2001
We have added a page of information on the relationship of the U.S.
02 Mar 2001
The U.S.
27 Feb 2001
The Public Sector Committee (PSC) of the International Federation of Accountants (IFAC) is developing International Public Sector Accounting Standards (IPSAS) based on International Accounting Standards.
23 Feb 2001
Press releases have been issued by both The Institute of Chartered Accountants in Ireland (ICAI) and The Institute of Chartered Accountants in England and Wales (ICAEW) welcoming the European Commission's proposal for a regulation that would require all listed EU companies to prepare consolidated accounts in accordance with IAS.
The adoption of International Accounting Standards should be a great boon to European companies, particularly large multinationals, due to the reduced cost of compliance and raising capital. Transparency of financial reporting should benefit investors, who will be able to compare company performance more easily across the member states.
Brian Walsh, Chief Executive of the ICAI, said:
There are many compelling reasons for moving to IAS including marketability, cross border mergers and acquisitions, shareholder communication and finance raising. The implementation of this Regulation will improve competition and greatly facilitate free movement of capital. It makes complete sense to have one method of accounting for a transaction, whether it takes place in Berlin, Dublin, or Boston.
IASC has issued IAS 41, Agriculture.
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