The FASB’s Disclosure Framework team is close to issuing an Invitation to Comment, which will present the staff’s thinking on this important project. While this is a FASB only project, there are several other bodies that are watching the project closely, including the IASB and SEC. This post provides a brief update on the project [...] Read more > >
A recent paper by Backof, Bamber, and Carpenter (2011, International Financial Reporting Standards and Aggressive Reporting: An Investigation of Proposed Auditor Judgment Guidance) investigates auditors’ judgments under IFRS and US GAAP. The authors conduct an experiment where 200 auditors from a Big 4 accounting firm were asked whether they agree with management’s preferred accounting methods [...] Read more > >