Questions arise over IFRS study in the EU

Sharon Bowles, chairwoman of the European Parliament's Economic and Monetary Affairs Committee, and Dumitru Stolojan, a committee vice chairman, are questioning whether an audit firm and the Institute of Chartered Accountants in England and Wales can impartially carry out their commission to study the use of International Financial Reporting Standards in the EU. The officials argue that conflicts of interest exist and that the contract should be canceled.

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