Sparring over Standards
Posted on November 13th, 2008 by Priya Ramesh »Permalink
As most of our readers know, there’s been a ton of back and forth on fair value, particularly in light of transitions from GAAP to IFRS and in the wake of the financial crisis. So we’d forgive you for wanting to skim this next bit, but you’d miss late-breaking development. Accountants Round Up pointed us to this story at CFO about the way that a potential change in banking regulations could solve the fair value accounting controversy without a single change in accounting rules. See? Told you it was interesting. And that’s not even the half of it. Things have gotten so heated about this abroad that IASB Chairman Sir David Tweedie while he was trying to negotiate with European regulators on fair value.
We have to admit we find it kind of adorable when financial folks get to sparring. We’ll keep you posted as this one develops . . . and anyone with dish or a comment, please share!