Inability to listen to accountancy firms' concerns over reporting principles has prompted leading academic to accuse the IASB of being like the EU
Accounting standard-setters have been branded undemocratic and ‘arrogant’ for failing to change the principles of reporting to reflect global economic changes.
David Middleton, emeritus professor of Finance and Accounting at Cranfield School of Management has described the International Accounting Standards Board, IASB, and the European Union as alike in their failure to consult.
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