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Unformatted text preview: n we are all
better off,’ Prada s aid.
In his s peec h, Prada c autioned that if s om e juris dic tions , and partic ularly the
larger ones , s howed s igns of wanting to return to the ‘a la c arte’ m odel, then
others were likely to follow and ‘everyone los es ’.
‘If the IASB and the FASB c ould not c om e up with the s am e s tandards for the
netting of derivative c ontrac ts , and has s truggled to find a c om m on loan los s
im pairm ent m odel, des pite years of s itting around the s am e board table, then
what c hanc e is there for m ultiple boards to independently reac h the s am e
outc om e?’ Prada s aid.
He als o s poke out agains t a dec entralis ed proc es s by whic h national
regulators would work together with a view to either c onverge towards
international s tandards , or not, ac c ording...
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- Spring '09