Wednesday, December 10, 2008

The year ahead in International Reporting reports on a speech by Sir David Tweedie, Chair of the IASB, at a breakfast meeting this week.

It deals with what is coming up at the IASB next year. It is interesting that Sir David noted the intention to take a firmer stance against government pressure with respect to financial reporting standards. You will recall that there was pressure to abandon "fair value"accounting"(the SEC has this matter under review and it seems likely that it will support "fair value accounting). There was also pressure to change financial statement classification (from MTM to hold to maturity) for certain financial instruments - an interesting saga!

The article Happy New Year, Global Accounting by Mary Leone makes interesting reading.

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