11/7/2013

The U.K.'s Financial Reporting Council says the International Accounting Standards Board's proposal to allow certain companies with rate-regulated assets and liabilities to continue using previous accounting policies after adopting the International Financial Reporting Standards would be unfair to jurisdictions already using IFRS. Roger Marshall, chairman of the FRC's accounting council, said the interim standard is not principles based, and would subvert the uniformity of global standards.

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