ICAS supports the Accounting Standard Board's adoption of international financial reporting standards
The need to maintain transparent and understandable financial reporting is at the heart of ICAS’ response to the Accounting Standards Board’s draft policy statement on its future role.
ICAS is keen for all UK companies to adopt international accounting standards as soon as is reasonable.
Hugh Shields, Convener of the ICAS Accounting Standards Committee said: “Our submission is unambiguous. International Financial Reporting Standards (IFRS) should be applied to every company on a clearly stated timescale.”
In order to do this ICAS has made three main points in its submission to the ASB.
See full Press Release.
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