Equally accountable
The countdown to global accounting standardisation has begun. By the start of next year, around 7,000 European corporates will be using the new International AccountingStandards. Or will they? Hardeep Dhillon discovers some teething problems
Numerous financial scandals have put the world of accounting in the spotlight, and the profession is about to witness more scrutiny with the forthcoming implementation of new International Accounting Standards (IAS).
This transition to a global standard for reporting accounts is aimed at harmonising international financial reporting standards, in particular a convergence with US Gaap (generally accepted accounting principles), by increasing transparency and allowing cross-border comparisons. The
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