Saturday, January 10, 2009

David Tweedie Chair of IASB speaks out.

The New York Society of CPAs has recently started a blog called the CPA Blog. I've added the link in the side bar of the site.

There were two recent posts related to comments by Tweedie. Both posts are authored by Cara Patterson.

Tweedie: IASB yielded to Political Pressure

Sir David Tweedie admitted that he yielded to pressure from French President Sarkozy of France and Chancellor Merkel of Germany to allow reclassification of certain financial assets out of fair value classification - retroactive to July 1, 2008.

IFRS:Resistance is Futile

Sir David Tweedie expressed confidence that the US will remain on track to adopting IFRS despite new leadership at the SEC. He believes that conversion to IFRS in the USA is a market driven event.

The comments were made on a webcast provided by the Lubin School of Business at Pace University. It can be accessed through the first of the two posts noted above.

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