Financial and Accounting News

• July 7, 2011 MASB Exposes IFRS-Compliant Standards In August 2008, the Malaysian Accounting Standards Board (MASB) together with its trustees, the Financial Reporting Foundation, jointly issued a statement about their plans to converge with International Financial Reporting ...
• July 7, 2011 UK Government will complete switch to IFRS in 2013 The UK Government has announced that the application of IAS 27 will be extended to all National Health Service (NHS) organisations from 1 April 2013. This application had been deferred since the adoption of International ...
• July 7, 2011 Questionnaire on accounting for Islamic finance transactions The Islamic Finance Working Group of the Asian-Oceanian Standard Setters Group (AOSSG) is conducting a survey to collate information and receive feedback regarding the standards that would apply to the financial reporting of ...
• July 7, 2011 ASB Seeking Feedback on U.S. Auditor Reporting The AICPA Auditing Standards Board (ASB) is requesting input from members and other stakeholders to help form its comments on the consultation paper, Enhancing the Value of Auditor Reporting: Exploring Options for Change ...
• July 6, 2011 ACCA Chief Executive Awarded OBE ACCA'S CHIEF executive Helen Brand has been awarded the Officer of the British Empire (OBE) in the Queen's Official Birthday Honours list. Brand has held the position since September 2008 and is also a member of the ...
• July 6, 2011 PwC: Analysts Crave More Timely Assurance, Less Boilerplate Audit INVESTORS AND ANALYSTS crave timely assurance and greater narrative reporting than is provided under the current audit model, PwC has claimed. Its new report, Fresh perspectives on audit: the investors' and analysts' ...
• July 6, 2011 Progress on International Accounting Standards 'Substantial' PROGRESS TOWARDS convergence of International Financial Reporting Standards with US GAAP has been described as "substantial" by the standard setters. The International Accounting Standards Board and US ...
• July 6, 2011 Tax Court Allows Deduction for Payment to Long-Term Caregivers The Tax Court held that payments made to an elderly woman’s caregivers for personal care that she required due to her diminished capacity qualified as long-term-care services and were therefore deductible under IRC ...
• July 5, 2011 HMRC Launches VAT Initiative THE TAXMAN will be sending more than 40,000 letters out over the next few weeks informing businesses how to register for VAT. HM Revenue & Customs is focusing on businesses that have a turnover of £73,000 and ...
• July 5, 2011 IAESB Proposes Clarified Standard on Professional Accounting Education Entry Requirements The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 1, Entry Requirements to a Program of Professional Accounting ...