CHINA UNLIKELY TO MOVE QUICKLY TO ADOPT FAIR VALUE ACCOUNTING
February 1st, 2009
BY MARK GODFREY THOUGH its top trading partners continue to stick with the fair value or mark to market principle set by the International Financial Reporting Standards (IFRS), China remains unwilling to embrace the principle. Though Beijing, keen to nurture its companies into global corporate champions, has been bringing its Accounting Standards for Business Enterprises (ASBE) closer to the IFRS it won't require listed firms to use the fair value approach - "not for the foreseeable future," Dickson Leung, partner at the Beijing offices of Lehman Brown has told ...
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