Article Abstract:
Outgoing International Accounting Standards Committee (IASC) chmn John Kirkpatrick is still enthusiastic about the IASC after over two years in office. Kirkpatrick says that IASC's most important achievement during the period has been increased recognition of IASC standards. Kirkpatrick is indignant at accusations that IASC is imposing Anglo-Saxon standards on developing nations, noting that IASC is careful to have representatives of all major cultures and developing nations on its Board and steering committees. IASC has now issued 26 standards, with three exposure drafts open for comment. Kirkpatrick says that the biggest task facing IASC now is harmonization: making the organization responsive to the needs of the international user community.
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Article Abstract:
The advantages and disadvantages of the training and education systems of the Institute of Chartered Accountants of Scotland and the Institute of Chartered Accountants in England and Wales has developed as an important issue in the debate over a British Institute. The education and training offered by the two systems is nearly the same in important areas, and the programs are being moved closer together by the desire of firms across Britain to meet the same professional needs and interests. The differences that are apparent can be resolved easily without sacrificing the excellent standards of either the English or the Scottish institute.
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Article Abstract:
The European Economic Community's Eighth Company Law Directive, passed in 1984, stipulates (among other things) that auditors performing statutory audits must be professional auditors who are independent of their audit clients. Problems of complying with this independence standard for auditors are discussed; in general, the problems are concerned with: the definition of 'incompatible activities', parallel client work, financial and other relationships with client, and trusteeships.
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