‘It’s much more work than I thought it was’
Bob Laux is having almost daily meetings with about IFRS and what Microsoft will need to do to manage the change
London-based IASB calls for more money to be set aside earlier, but its proposals fail to bridge regulatory disagreement with US
Politicians told the group did not encourage more aggressive bookkeeping but acknowledged failings in banks’ recognition of bad loans
Drive to rewrite the relevant rules has now been damaged by a significant disagreement between accounting standards boards
Bob Laux is having almost daily meetings with about IFRS and what Microsoft will need to do to manage the change
Elizabeth Fry looks at how IFRS affected Australia’s largest bank
Further changes will bring even more problems, writes Ben Hall
Good preparation is a prerequisite, says Paul Taylor
A prudent regime would have precluded the enormous losses incurred by banks which went on to pay big bonuses, write Ben Levenstein and Robert Talbut
The International Financial Reporting Standards led to the inflated profit reports that contributed to the banking crisis. Two accounting experts urge the G20 to drop its support and call for the SEC not to adopt them
In the US mortgage crisis, for all the complexities of structured finance, there were simple signals of problems in banks’ accounts, writes
The embarrassment stems from the way some European banks reported losses of 21% on the state bonds, while others slashed their value by half
Reforms needed to boost confidence in corporate reporting are to be finalised at least two years late, hindered by a quest to align US and global rules
Force banks to hold more equity and make it easier to write down unsecured bondholders