Audit and Assurance Services | Financial Statement Audit, Accounting, Fraud Investigation, Sustainability - Ernst & Young

By: Pfic Analyzer  09-12-2011
Keywords: Audit Committees

Audit and Assurance Services | Financial Statement Audit, Accounting, Fraud Investigation, Sustainability - Ernst & Young

Sweeping changes to accounting standards are coming — are you ready?

You operate in an increasingly uncertain business environment, complicated by the unprecedented range of potential changes to accounting standards. In this environment, management and audit committees are asking what they should be doing today to ready themselves for such significant change.

The IASB and FASB have undertaken a number of ambitious standard-setting projects to improve both IFRS and US generally accepted accounting principles as well as to work to achieve convergence. These new standards, when issued, are expected to significantly alter accounting treatments and disclosures in several critical areas, including financial instruments, leases and revenue recognition. The number of standards being revised is significant, but of greater importance is how the accounting for common transactions will change as a result of these standards.

Keywords: Audit Committees

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