The European Union has reiterated its call for more "home-grown" representation in drafting international accounting standards. The E.U. has demanded more that the current five seats it has on the International Accounting Standards Board, claiming that as of Jan. 1, it was the first to use the international accounting rules ahead of the U.S. At the start of the new year, all publicly traded companies within the 25-nation E.U. were require to use international rules. Last week, former Federal Reserve Chairman Paul Volcker, who serves as chair of the IASB overseer committee, said that Europe was "sufficiently represented on the board," and instead of boosting European representation, more consideration should be given to countries such as India, China and Japan. Both the U.S. and the E.U. have five seats on the IASB. In a speech before a gathering of accounting professionals, Volcker said that representation on the IASB shouldn't be based on "national, political or sectoral interests."
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The Public Company Accounting Oversight Board today sanctioned Goldman & Company, CPA's, Raymond Chabot Grant Thornton, and PWR CPAs.
July 11 -
The Senate passed a bipartisan bill that would provide tax-filing relief for taxpayers in states that have issued state-level disaster declarations, sending the bill to President Trump for his signature.
July 11 -
Wiss hosts third annual summer financial literacy program; Schneider Downs adds five shareholders; and more news from across the profession.
July 11 -
Plus, Abacus announces $6.6 million seed funding for agentic AI assistants; and other news and updates from the accounting tech arena.
July 11 -
Underhanded underground; down on the farm; reality check; and other highlights of recent tax cases.
July 10 -
Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: site selection + incentives and state and local income tax consulting.
July 10