IFRS FACES MANY CHALLENGES, BUT THE BENEFITS OUTWEIGH THE COSTS
October 1st, 2014
INTERNATIONAL Financial Reporting Standards’ (IFRS) are not perfect, but their benefits to the European Union (EU) have outweighed their costs, an Association of Chartered Certified Accountants (ACCA) event in Brussels heard on September 25. The European Commission is carrying out its first public consultation on the impact of IFRS in the European Union (EU), seeking formal comments by October 31, helping it generate policy proposals by the end of this year. The Commission plans to send its assessment of the EU’s IAS (international accounting standards ...
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