ICAEW Issues Summary of its Auditor-Investor Forum
The Institute of Chartered Accountants in England and Wales (ICAEW) has published a report summarising the some of the key highlights of its Auditor-Investor Forum held on 24 November 2011. During the forum, investors, auditors and financial statement preparers had discussions on the main issues related to 2011 year-end bank reporting, more specifically, exposure to sovereign debt, risks taken to secure returns and liquidity management. The report also states that differences between IFRS and US GAAP, such as IFRS having more restrictions on netting of financial instrument positions versus US GAAP's less restrictive stance, continue to cause issues when comparing US and non-US firms.
Click for the ICAEW Auditor-Investor Forum report