PCOAB and POB join hands

With the recent Dodd Frank law amending the accounting rules to permit exchange of information with overseas regulators, the Public Company Accounting Oversight Board (PCOAB) and its British counterpart Professional Oversight Board (POB) have signed an agreement to...

Sri Lanka getting ready to adopt IFRS

The Institute of Chartered Accountants of Sri Lanka (ICASL) plans to adopt new accounting guidelines for Sri Lankan companies in line with International Financial Accounting Standards starting 2012. The Central Bank of Sri Lanka, in its Road Map Monetary and Financial...

Convergence Project still on track

Recently the Financial Accounting Standards Board and the International Accounting Standards Board said they were on track to finish writing the new accounting standards for financial instruments, revenue recognition, leases, comprehensive income, and fair value...

India on track for adoption of IFRS

Even thought the Indian version of the International Financial Reporting Standards (IFRS) has been altered here and there, the country is all set to implement the standards come April 2011. In the first phase, companies on the Indian stock exchanges – Nifty 50...