May 21, 2009
Tax and Ethics
Richard Murphy uses a Daily Telegraph report as the basis for suggesting that IASB has effectively thrown the principle of prudence out the window. I was surprised when I read the DT piece which asserts: Some believe the IFRS regime was the crucial factor that allowed banks to get out of control, overstating their profits, [...]
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May 13, 2009
Tax and Ethics
IASB member John Smith is reported to have said at a recent conference: “If it [US] doesn’t adopt,” he warned, the United States “will be the outlier and those countries already adopting and committing themselves to IFRSs will not accept a situation where the United States remains outside the system indefinitely, yet has a seat [...]
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