The International Accounting Standards Board (IASB) has welcomed the decision of the US Securities and Exchange Commission (SEC) to propose allowing non-US companies to file financial results according to International Financial Reporting Standards (IFRS) as approved by the IASB. The change would permit non-US companies to access US capital markets without reconciliation with US generally accepted accounting principles (GAAP) by 2009. The SEC emphasised that this proposal applies only to those companies filing financial statements according to full IFRS. The SEC’s decision reflects the increasing acceptance of IFRS as a widely used and high quality financial reporting language. It also proves the significant progress that has been made in the convergence process between the IASB and the US Financial Accounting Standards Board (FASB).
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.