European ministers instantly demanded that the International Accounting Standards Board (IASB) do likewise.
Schapiro talked about a number of issues, but one she stressed strongly was the need for high quality international accounting standards.
On Tuesday, the SEC hosts a long-planned forum to discuss its "road map" for the convergence of U.S. and international accounting standards.
Starting this year, companies will have to comply with international accounting standards.
The World Bank is making its loans to some South Korean companies conditional on their adoption of a set of international accounting standards.
That is precisely why there should be a stewardship concept in accounting, which is been almost forgotten now by the International Accounting Standards Board.
She called for a convergence of U.S. and international accounting standards.
Although the group's shares are listed in New York, Credit Suisse reports neither under American nor under international accounting standards, preferring the less burdensome Swiss variety.
He said that American casinos instituted background checks, international accounting standards, and other good-faith efforts to prevent the encroachment of organized crime, but triads found inventive solutions.
Its chairman, Ed Jenkins, has been running a rearguard action against plans to harmonise international accounting standards, because he believes that standards overseas are not tough enough.
Opaque company accounts remain an obstacle to a vigorous market for corporate control but next year the country is moving to international accounting standards which will improve disclosure.
The new bylaws, written with guidance from the Paris Bourse, require balance sheets that meet international accounting standards and list a minimum of 25% of the company's shares.
For several years, the SEC and the London-based International Accounting Standards Board (IASB), which oversees the international rules, focused on steadily bringing the two sets of standards together.
First of all, as I noted in a recent blog, the International Accounting Standards Board now think that all accounts are produced to meet the needs of speculators.
And in that case questions must be raised about why the International Accounting Standards Board has been given custody of this issue, which they so clearly fail to comprehend.
The International Financial Reporting Standard Foundation (formerly the International Accounting Standards Committee Foundation) is the governing body of the International Accounting Standards Board that sets accounting standards for much of the world.
The audit of the firm's accounts, by KPMG Huazhen, was unqualified, though the auditor noted that they did not contain all the information needed to meet international accounting standards for a full company report.
While the study suggests that confidence in the standards will improve with familiarity, as investors and analysts educate themselves the debate will move to the standard-setting process as well as the governance of the International Accounting Standards Board.
FORBES: U.S. Exceptionalism and Accounting Standards: Investors' Viewpoint
The goal of developing a single international accounting standard is not entirely new--in fact, it dates back to 1973, when the International Accounting Standards Committee (now the International Accounting Standards Board) developed a set of standards to be used worldwide.
Extensive knowledge of international Accounting Srandards including experience of International Public Sector Accounting Standards.
UNESCO: Vacancy : Chief of Section (28/2/2011)(CI 004 - (P5))
In both countries, several pieces of recent legislation have improved transparency: German companies are now free to and increasingly do adopt international or American accounting standards, which are already in wide use in France.
The federal government has gone even further and exempted EADS from the Buy American Act, the Berry Amendment, the International Trafficking and Arms Regulations, and the Cost Accounting Standards.
The prospects and desirability of convergence between U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) have been much debated, but the SEC has not yet decided whether and how to proceed.
FORBES: U.S. Exceptionalism and Accounting Standards: Investors' Viewpoint
Summary: Although convergence between US generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) has been the subject of much debate and collaborative effort, it is still unclear when the US Securities and Exchange Commission (SEC) will make a determination about how to proceed, or what its final decision is likely to be.
The NAO's Comptroller said he had also qualified his audit opinion because the department's accounting policies were not fully compliant with International Financial Reporting Standards.
BBC: Watchdog refuses to sign off 'problematic' MoD accounts
Even by the government's optimistic accounting, only Bank of China currently meets the standards set by the Bank for International Settlements, which thinks big banks should have capital equal to at least 8% of their assets.
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