IFRS Foundation chairman warns against "nostalgia accounting"

12/3/2013 | Accountancy Live (U.K.)

The chairman of the IFRS Foundation says European countries should commit to a single set of accounting standards rather than make individual tweaks to the International Financial Reporting Standards. Michel Prada, speaking at the Financial Accounting Standards Foundation in Tokyo, decried what he called "nostalgia accounting," saying that jurisdictions choosing from an "à la carte menu" would erode the goal of a single set of high-quality standards.

View Full Article in:

Accountancy Live (U.K.)