Global accounting convergence faces some hurdles

10/28/2012 | Reuters · Compliance Week

A split between the International Accounting Standards Board and the Financial Accounting Standards Board threatens to derail the drive for common standards that are a decade in the making. The two sides are divided on a number of issues, such as how banks should acknowledge losses from bad loans. Separately, an IFRS Foundation report questions many of the Securities and Exchange Commission's conclusions about U.S. adoption of International Financial Reporting Standards.

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Reuters · Compliance Week