IASB + FASB = FAIL
After 12 years of talk - and a lot of hard work - the FASB and IASB have little to show of the hoped-for convergence in standards, dismaying regulators and other stakeholders
From Japanese and German to Arabic and Russian, every one of the world's top 10 languages has more than 100 million speakers – a point made at a meeting of the US Securities and Exchange Commission (SEC) on August 27, 2008, by the commission's then chairman, Christopher Cox. He went on to make the not-terribly-bold prediction that it "may be a very long time" before the world has a single, common language.
But Cox followed with something more daring: "Fortunately, we won't have to wait nearly as
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