Tuesday, May 18, 2010

ASB raises concerns about derecognition standard


ASB chairman writes to IASB chief on new standards

The Accounting Standards Board has voiced concerns about emerging rules covering derecognition, amid concerns new standards could encourage “financial structuring” opportunities.

In a letter, addressed to International Accounting Standards Board (IASB) chairman, Sir David Tweedie, the ASB said it had “significant concerns about the direction of travel” on the derecognition project.

See full Article.