International


INTERNATIONAL

Public ownership of banks stimulates banking-sector strength and resilience in the face of economic disruptions, says a new study by the World Bank ( www.worldbank.org/research/interest/policyresrpt.htm ).

Research by the European Federation of Accountants reveals that in nearly half the countries it surveyed, there is no system for enforcing accounting standards ( www.fee.be/publications/LatestPubs.htm ).

Speaking at a conference in Oslo, an SEC official proposes the International Accounting Standards Board lead national standard-setting bodies toward adopting the highest quality standards possible ( www.sec.gov/news/speech/spch494.htm ).

The Organisation for Economic Cooperation and Development adopts IFAC’s public-sector accounting standards for its own financial reporting. IFAC’s objective in issuing the standards was to improve decision-making, financial management and accountability by the world’s governments ( www.ifac.org/News/LastestReleases.tmpl?NID=99185632316518 ).

The European Federation of Accountants says current accounting directives need to be modernized before European companies can apply international accounting standards ( www.fee.be/publications/LatestPubs.htm ).

The United Kingdom’s accounting standards board publishes an exposure draft of an amendment to its financial reporting standard for smaller entities ( www.asb.org.uk ).

SPONSORED VIDEO

How KPMG is innovating the audit

KPMG's global audit team is using cognitive technology and alliances with tech and university partners to drive audit innovation. See how.

SPONSORED REPORT

States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.