文章作者 100test 发表时间 2012:03:17 20:23:41
来源 100Test.Com百考试题网
The head of a British accounting group is warning the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board against pursuing a so-called condorsement approach to International Financial Reporting Standards.
Dr. Nigel Sleigh-Johnson,head of the Financial Reporting Faculty at the Institute of Chartered Accountants in England and Wales,said the condorsement approach is fraught with risks and drawbacks. He noted that a mandatory transition date for IFRS worked better in the U.K. for public companies,and a gradual approach for private companies had proven to be problematic.
Condorsement,a combination of convergence and endorsement,would allow FASB to endorse IFRS one standard at a time into U.S. GAAP. FASB chair Leslie Seidman indicated during a pair of speeches this week that she thought such an approach has many positive aspects (see FASB Chair Seidman Favors Condorsement Approach). The SEC is expected to decide before the end of the year whether to move forward with incorporating IFRS into the U.S. financial reporting system. The SEC staff released a work plan paper in May outlining how a condorsement approach to adopting IFRS might work in the U.S. (see SEC Releases Work Plan for How IFRS Transition Might Work).
Sleigh-Johnson said the experience in the U.K. and other European countries with IFRS showed that the best strategy to minimize market disruption was a simultaneous transition on a mandatory,well-publicized and certain date,at least for major companies. Where there is a well-understood deadline and a clear focus and sense of purpose,it is easier for everyone—including business people,auditors and users,to adjust to the new standards.