Standards stoush

Article Abstract:

Australia's accountants and the business community are disappointed with the services of the Australian Accounting Standards Board (AASB). Apparently, the board failed to react to the crucial standards that were being formulated by the International Accounting Standards Board (IASB) for harmonization of the international accounting procedures. A group of about 100 Australian accountants wants to circumvent AASB for negotiations with IASB but IASB wants AASB to remain in the picture.

Product standards, safety, & recalls, Services information, Standards, Services, Accounting, International Accounting Standards Board, Accounting Standards Board, Accounting procedures

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Reforms need further review

Article Abstract:

CPA Australia's proposal to reform and simplify Australia's financial framework gets criticism from the interested parties on the grounds that the professional body have taken their reform too far. Critics of the proposals felt that the need for radical change was unsupported and unnecessary.

Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Reporting & Disclosure, Financial services industry, Financial statements

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Timely advice for super DIYers

Article Abstract:

A number of self-managed superannuation funds in Australia do not comply with legislation.

Analysis, Pensions

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