Still on track

Article Abstract:

The Memorandum of Understanding agreed between the International Accounting Standards Board and the US Financial Accounting Standards Board in February 2006 outlined a series of milestones the boards would have to meet on the way to convergence between international standards and US generally accepted accounting principles (GAAP). A few potential checks remain in December, but the boards are on track to meet all of the milestones, after which differences between international standards and US GAAP would be removed.

United Kingdom, Management dynamics, Alliances, partnerships, Management, International aspects, Accounting, International Accounting Standards Board, Company business management, Alliances and partnerships, Financial Accounting Standards Board, Accounting standards

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Closing Pandora's box: how to fix s404

Article Abstract:

The US Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) hosted a roundtable where the US regulators, industrialists, investors, and auditors presented their views and actual experience of complying with Section 404 of the Sarbanes-Oxley Act. The SEC is working out a new strategy as it revises the s404 and aims at taking various actions including detailed guidelines on completion of the assessment of internal control over financial reporting.

Interpretation and construction, Corporation law

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