Essential, not extra
13 September 2012
Opinion: Not only will IFRSs be of benefit to all parties, they are essential if global economies are to succeed in the way they should.
The adoption of International Financial Reporting Standards (IFRSs) throughout the EU in 2005 has focused attention on the work of the International Accounting Standards Board (IASB). But the intense effort associated with preparing for 2005 risks obscuring the purpose of the IFRS exercise as a whole and slowing the momentum of global convergence.
Quite simply,...