Pension fund calls out discrepancy between IFRS and U.K. law

06/21/2013 | Bloomberg

International Financial Reporting Standards, which use an incurred-loss model, contradict a U.K. law that requires "a true and fair" view of profit, according to the London-based Local Authority Pension Fund Forum. The organization called for the U.K. government to investigate how IFRS became part of EU law.

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