Accounting News Roundup: IASB Threatens to Walk Away From FASB; The Last of the XBRL Stragglers; Yet One More Bankrupt City | 08.04.11
Global accounting rules? Don’t tread on me, U.S. says [Globe and Mail]
The United States Securities and Exchange Commission first suggested four years ago that public companies could eventually use the global standards, known as IFRS. Now, however, the agency’s staff has delivered a new working paper describing the idea of “condorsement.” It’s supposed to be a combination of “convergence” and “endorsement,” but it might be better named “rejectstinance,” for obstinately rejecting a global standard.
Attorney With Ties to Goldman and SEC Continues to Cause Controversy [