Oct 24, 2016 | Accounting Globalization, Standards Convergence
With Brexit, the question now is whether the British lawmakers would ask the British companies to file their financials using a different set of accounting rules than the current International Financial Reporting Standards. Some British politicians and investors have...Nov 27, 2012 | Accounting Frauds
The recent accusation of HP against Autonomy, the British software company that HP bought for $11B, raises fingers in all directions. Who is it at fault- Autonomy management, the management of HP, the auditors, or the differences in the accounting standards? Let’s...Nov 5, 2012 | Standards Convergence
When the financial crisis was at its peak in 2009, the G20 group met to set a date for the worldwide convergence of the financial standards by end of the year. The deadline got postponed to mid-2011 and then again mid-2013. In a recent report from the SEC which made...Oct 25, 2012 | Accounting Globalization, Standards Convergence
In response to the July report issued by US SEC (which did not give any idea as to whether and when would the SEC decide on adoption of IFRS by its constituents), the IASB issued its own analysis of the situation. According to the International Accounting Standards...Oct 9, 2012 | Accounting Frauds
A recent study done by researchers at the University of Arkansas and the University of Missouri shows the effect of having different accounting standards in different countries on mergers and acquisitions. The lack of same or similar standards is a deterrent for...