IASB and FASB can’t get on same page

The international and US accounting standards bodies are both adjusting their mark-to-market rules in favour of politicians and bankers. FASB did it last month. IASB is working on it as quickly as they can. And yet, the two cannot agree on just how far they should bend over backward for the special interests. After pressure […]

Protecting the public interest, Web 2.0 style

Richard Murphy’s on fire these days, taking it One World Trust, explaining the power of blogging and giving it to New York CPAs. Too many in accountancy see their role to be increasing the wealth of the wealthiest in our society… and they’re politically cynical enough to pander to their clients and ignore the ethics […]

Global ethics and international accounting standards

The Publish What You Pay campaign is where international politics, financial reporting, and the developing world intersect. The campaign seeks to force companies in extractive industries (such as oil and gas) to make public their payments to governments in the developing world. It began in 1999 with an “exposé of the apparent complicity of the […]

No new international accounting standards effective before 2009

The International Accounting Standards Board (IASB) has announced they won’t be issuing any new standards or major amendments to existing standards with effective dates before January 1st, 2009, in order to give companies reporting under the standards a bit of a breather to get their house in order. Word around the accountant blogosphere has been […]