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For summaries of the most recent regional, national and international news stories pertaining to chartered accountants and the Alberta CA profession, please see the articles below.
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Canada’s biggest companies walked away from this country’s accounting rules after more than half a century this year, embracing International Financial Reporting Standards. The pain of the transition was eased by the knowledge that the world is moving to a global set of standards, used by all. Well, take one guess as to who might not go along. The United States Securities and Exchange Commission first suggested four years ago that public companies could eventually use the global standards, known as IFRS. Now, however, the agency’s staff has delivered a new working paper describing the idea of “condorsement”. It’s supposed to be a combination of “convergence” and “endorsement,” but it might be better named “rejectstinance,” for obstinately rejecting a global standard.
http://www.theglobeandmail.com/globe-investor/investment-ideas/features/vox/global-accounting-rules-dont-tread-on-me-us-says/article2118898/
Globe and Mail
Latest News 2011
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