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Unformatted text preview: to ‘s o-c alled national s pec ific ities and
interes ts ’. They would then c hoos e whether or not to adapt their national
s tandards ac c ordingly. Prada des c ribed s uc h an approac h as ‘a m os t
regrettable s tep bac kwards ’.
W hen as s es s ing progres s worldwide towards adopting IFRS, Prada adm itted
that ‘it is fair to s ay that progres s in the US has been s lower than m any of us
would wis h’.
In c ontras t, while China has a lot of c atc hing up to do, Prada reported it has
http://www.accountancylive.com/cr oner /jsp/Editor ial.do?channelId= - 601061&contentId= 2827686 1/2 2/1/2014 IFRS Foundation chair slams ' tweaks' to g lobal r ules | Accountancy Live ‘already m ad...
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- Spring '09