Please ensure Javascript is enabled for purposes of website accessibility
February 4, 2023

Center for Audit Quality Feeling Unsatisfied After SEC’s IFRS Work Plan

Cynthia Fornelli & Co. appreciate the effort by the SEC but would have appreciated a little bit of cuddling:

“The SEC staff is to be commended for completing its Work Plan on international financial reporting standards (IFRS). While staff recommendations of specific approaches or dates for the possible incorporation of IFRS into the U.S. financial reporting system was beyond the scope of the staff’s Work Plan, we hope the information in the report will facilitate an SEC determination on incorporation of IFRS in the near future. The CAQ remains supportive of the adoption and universal application of a single set of high quality global accounting standards. IFRS are best positioned to be that single set of standards.” 
[via CAQ, Earlier]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a guy giving thumbs down

SEC Fines Friedman For Piss-Poor Auditing So They Remember to Exercise Professional Skepticism Next Time

Last week the Securities and Exchange Commission charged Friedman LLP with with improper professional conduct for failing to comply with the standards of the Public Company Accounting Oversight Board while conducting audits of two public companies from 2017 through 2020. Friedman has agreed to settle the charges and will pay approximately $1.5 million in total […]

large dollar signs in a field

Big 4 Firms Are Fighting Engineers Over the Right to Bill Clients For Climate Disclosure Audits

Interesting piece over at the Wall Street Journal this morning about environmental disclosures or, more significantly, who gets to charge clients for auditing this data under SEC climate disclosure rules proposed in March. Read: Firms that verify businesses’ climate data are at odds over who is qualified to perform the work, a pivotal and potentially […]