Experts fear internal market commissioner's plans will undermine work of IFRIC
Accounting chaos could strike EU companies if a proposed European forum creates and issues its own interpretations of international accounting standards, experts have warned.
The warning followed moves by internal market commissioner Charlie McCreevey, who suggested creating a forum as a way of smoothing out differences in the treatment of IFRS across Europe. He sees this as crucial to the drive for harmonisation of standards with the US.
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