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Mary Schapiro Would Never Support Low Quality Global Accounting Standards

Mary Schapiro.jpgWhether Mary Schapiro was just craving Toblerones right out of the factory or just needed to cool off after head butting the staff involved in the Mark Cuban case to get them fired up, the Chair of the Commission is over in Basel, Switzerland letting some other Schape-types know that she’s 100% behind “a global set of high-quality accounting standards.”
That’s great and all but why do we keep hearing the phrase ‘high-quality accounting standards’? Maybe it’s our wild imagination but is there a back room somewhere filled with bizarro accountants devising a plan to develop “the biggest set of piss-poor global accounting standards you could possibly imagine”?
Is that why the convergence will take so long because there are opposing forces with their own agenda? We all want quality accounting standards M. Schape unless you’re not telling us the whole story.
SEC seeks common goal for accounts [FT]

Posted in SEC