IFRS Foundation chair slams 'tweaks' to global rules _ Accountancy Live

Prada des c ribed the des ire to tweak the ifrs s

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Unformatted text preview: lternative.’ Prada des c ribed the des ire to ‘tweak’ the IFRS s tandards to better reflec t loc al preferenc es or ac c ounting traditions within a partic ular juris dic tion as ‘a form of nos talgia ac c ounting’. He s aid that while individual IFRS juris dic tions m ight well like to c hoos e from what he term ed ‘the à la c arte m enu’, by doing s o they would endanger the benefits of having one s et of s tandards . ‘If we all work together, taking into c ons ideration our loc al knowledge and expertis e, to develop a s ingle s et of s tandards of the highes t quality, and if we all c om m it ours elves to abide by the outc om e of the s tandard-s etting proc es s that takes into c ons ideration global input gained along the way, the...
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This note was uploaded on 04/02/2014 for the course MGA 302 taught by Professor Ampadu during the Spring '09 term at SUNY Buffalo.

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