New accounting standards predicted to have wide effects:

08/28/2008 | Financial Times (free content)

The Securities and Exchange Commission set up a timeline for U.S. companies to change over to international accounting standards, but industry insiders said the change is much more far reaching than many probably realize. "It's about so much more than an accounting exercise -- I have to say that over and over again," said Danita Ostling, an audit partner at Ernst & Young.

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