Proposal to restore confidence in financial reporting
It may not be necessary to amend UK company law in light of international standards, but it does offer reassurance, writes Peter Wyman, head of professional affairs at PricewaterhouseCoopers.
Accounting standards
Resources
After the first year of implementation of International Financial Reporting Standards, there are signs of a backlash. Get the latest news on this developing story, plus read a briefing on IFRS, our weekly Accountancy Column and join the debate in our online discussion forums.
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Accounting for loans
Problem: lumpy bank writedowns. Quick solution: change the accounting rules. New problem: a Pandora’s Box of reportage
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US convergence looms
Securitisation hits top of international agenda
Accounting rules in spotlight
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Regulator fails to solve writedowns issue
Accounting chiefs defend ‘fair value’ system
Rebuff of banks and insurers’ attacks
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Globalisation has been recognised as an animating force in the business world for so long the term has become a cliché. It has taken international accountancy longer to discover a buzz-word of its own, but since the end of the internet bubble one has begun to concentrate minds: harmonisation.
Editorial comment
Companies need stability, not novelty
International accounting convergence is a necessary but difficult project. It will be a shame if, at this critical moment, standard-setters undermine companies' support for a set of workable international standards.
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