July Trusted Professional: QROC, the NYSSCPA Annual Election Meeting & More
Have you seen the latest issue of The Trusted Professional? Stay on top of Society news and the key legislative, regulatory and administrative issues that affect you.read more
View ArticleFASB and IASB Giving Lease Standards a Second Try
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB)announced that they are going to re-expose their revised lease accounting standards proposal due...
View ArticleIASB Critiques Euro Banks in Greek Debt Writedown
The International Accounting Standards Board (IASB) expressed concern that some European companies are booking Greek debt at much higher values than they probably should, according to a letter sent...
View ArticleS&P Warns of Convergence Consequences on Banks
Credit-rating agency Standard and Poors has warned that, should the United States, through the Financial Standards Accounting Board (FASB) adopt a proposed standard on balance sheet offsetting as part...
View ArticleIASB Head Expresses IFRS Optimism
Hans Hoogervorst, chair of the International Accounting Standards Board (IASB), provided an optimistic view about the future of International Financial Reporting Standards (IFRS) before the European...
View ArticleMichel Prada to Head IFRS Foundation Trustees
The trustees of the IFRS Foundation have announced the appointment of Michel Prada as chairman of the trustees. In its announcement, the IFRS described him as "an outspoken advocate for investor...
View ArticleSenate Comes Out Against Private Company Standards Proposal
The U.S. Senate has entered the debate over whether there should be a separate standards setting body to oversee Generally Accepted Accounting Principles (GAAP) with modifications and exceptions for...
View ArticleIslamic Finance Bumps Up Against IFRS
The world of Islamic finance, a parallel economic world encompassing more than $1.3 trillion assets, is under increasing pressure by investors to join the mainstream accounting community by adopting...
View ArticleInvestors View IFRS Adoption as Likely
A report from the Association of Chartered Certified Accountants, using data collected by Forbes, shows that, among a sample of 493 U.S.-based investors with a combined $2.3 trillion under management,...
View ArticleU.S. Offered Seat on IASB Panel
The International Accounting Standards Board (IASB) has offered the U.S.read more
View ArticleIFRS 9 Shows Convergence Divergence
IFRS 9, the accountingstandard concerning the treatment of financial instruments, has become one more point of contention between the Financial Accounting Standards Board (FASB) and International...
View ArticleKnow Your Regulatory Acronyms: a Primer
There are a lot of acronyms in the accounting world, and they seem to change every couple of years. Financial Executives Daily has written a primer on who does what in the accounting regulatory world,...
View ArticleFitch Ratings Says IFRS in U.S. Less Likely
Credit rating agency Fitch issued a report saying that full adoption of International Financial Reporting Standards (IFRS) in the U.S., once seen as a near certainty, is now unlikely in at least the...
View ArticleLawmakers Caution Against Letting Corps. Choose Accounting Standards
A group of 12 senators and representatives have sent a letter to the Securities and Exchange Commission saying that companies should not be able to choose whether they want to file in U.S. GAAP or...
View ArticleIASB Ditches Dual Lease Model
The International Accounting Standards Board (IASB) announced it has decided to abandon the dual lease model that they had previously been considering in favor of a unitary approach, in contrast to...
View ArticleNon-IFRS Countries Down to Seven
At this point, there are only seven countries that do not generally allow their domestic publicly traded companies to file using International Financial Reporting Standards: the U.S., China, Egypt,...
View ArticleSEC Chief Accountant Weighing Course of Action on IFRS
The new Chief Accountant of the Securities and Exchange Commission James Schnurr, is said to be deliberating whether the U.S. should move to International Financial Reporting Standards (IFRS) or stay...
View ArticleIASB Releases Overview of Proposed IFRS Lease Standard
The International Accounting Standards Board has put out an overview of the lease standard that they say they would like to formally release sometime this year, according to Accounting Today.read more
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