International standards should be focused on being more relevant for investors
Convergence between international accounting standards and US standards is less important than ensuring the accounting rules work are relevant to investment decision, a survey has found.
A poll by the CFA Institute, the professional body for investors, found that 75% of those who answered believed convergence was as important or more important than simplifying standards or converging with US standards.
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The news was revealed in this morning’s Financial Times but earlier this month Accountancy Age reported that the UK’s new chief financial reporting regulator has placed convergence low down his agenda.
See full Article.
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