EU-wide consistency in applying accounting standards is desirable, but uniformity could lead to auditors becoming rigid and unresponsive, the Institute of Chartered Accountants in England & Wales has said.
The ICAEW was responding to a discussion paper from the European Financial Reporting Advisory Group on achieving consistent application of the International Financial Reporting Standards (IFRS) in the EU.
ICAEW chief executive Eric Anstee said: "While a degree of consistency in European financial reporting is desirable, uniformity may well result in practices that are too rigid and unresponsive.
See full Article.
Posts
