Back in November, the IASB threw out this Accounting Standards Advisory Forum idea that would […]
Tag: IASB
ICAEW to IASB: The U.S. Is Just Not That into You
This morning we learned that the ICAEW gave up, refusing to go along with the […]
The IASB Poaches a KPMG Partner and Issues a Press Release, Part I
You know, losing a partner to a larger, more prestigious rival is one thing; losing a […]
IASB Chairman Asks G20 Task Force To Turn Up Their Hearing Aids
Accounting rule convergence is dead. I know it. You know it. Hans Hoogervorst knows it. […]
Oh God, The IASB Is Humiliating Itself with Some Sort of IFRS-only Cool Treehouse Club Idea
Once upon a time, a few people got together and decided that we'd all be […]
FASB Chair Vows to Finish Term Cooperating, Condorsing, Enverging, Whatever
The last ten years haven't gone exactly the way the bookworms at the FASB wanted. […]
Lease Accounting Survey Highlights Growing Demand for Competent Survey Writers
Thank you, readers, for forwarding your spam to us. @going_concern Kindly help me complete this […]
Europe Finally Resorts to Making Empty Threats Over U.S. Stalling on IFRS
The foot-dragging by the SEC over IFRS is a sight to behold. At some point […]
Hans Hoogervorst Creates Unrealistic Expectations For IFRS In the US
If I didn't know any better, I'd think this story was from 2008. The head […]
New Hans Necessary If IASB Really Wants IFRS Implemented
This is the fourth installment of our Going Concern freelancer submissions. The following is by […]
Ratings Agency with Impeccable Track Record Attempting to Predict the Progress of U.S. IFRS Adoption
Once you suck at rating bonds enough, obviously the next logical step is to start predicting […]
IASB Chairman: Convergence Is So Over
“The simple truth is that when you have two independent, highly competent boards, sometimes they will agree with each other, and other times they will not,” he said. “It’s not that one is right and the other wrong; they just reach different conclusions. The same would be true if I were to split my board in two and ask them to consider 10 projects. I doubt each smaller board would reach identical conclusions on all 10 projects, so convergence would require compromises to be made. Convergence therefore does not always result in the highest quality outcome. It has served its purpose, but now it is time to move on. [AT]