Small companies are complaining that the IASB regulations are hurting them and that they cannot participate in the decision-making process.
Yet the do not want to participate in the funding of the IASB.
I wonder if they realise that participating in the funding gets them a seat at the table. Clearly not.
Onésimo Alvarez-Moro
See article:
Those who cannot remember the past are condemned to repeat it, wrote George Santayana, the Spanish-American philosopher, 100 years ago.
He did not broach any thorny subjects about accounting and auditing, but officials dealing with European Union accounts today are only too aware of Santayana's biting message.
Unable to forget the difficulties surrounding the introduction of international accounting standards, policymakers and regulators appear determined not to repeat the experience with auditing standards.
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