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Géraldine Schmit, FIDEOS partner 
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60 
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News | PwC urges standard setters to slow down |
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| Posted by Cfo World News | |
| vendredi, 16 juillet 2010 | |
 The International Accounting Standards Board (IASB) and US Financial Accounting Standards Board’s (FASB) scaled back standard-setting timeline is still too ambitious, according to PricewaterhouseCoopers US (PwC).The IASB and FASB decided last month to modify their work plan to allow more time for stakeholders to comment on draft standards. The work plan retains completion dates of June 2011 or earlier for the most urgent projects but has delayed others, such as financial statement presentation, to the second half of 2011. PwC believes the pace should be slowed further to allow for greater stakeholder participation. “We do not believe the current timeline proposed by standard setters is sufficient given the number and complexity of the projects,” the firm said in a public policy document. “We do not believe that constituents have the resource bandwidth within the targeted board timelines to complete effective, thorough analyses of the accounting, business, and operational impacts of these numerous complex proposals in order to provide the right level of meaningful input. “Preparers are also coping with major regulatory change and recovering from a severe economic downturn.” Source: The Accountant |
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