Sec rules backdating stock options Free apps adult chat phonesex

On the overseas front, reports that the UK-based Association of Investment Companies has expressed concern that investor needs are not being placed front and center in the deliberations of the IASB.And what's more, newly proposed changes to the IASB's makeup may be little more than going through the motions.Just for jollies, read the AICPA Code of Conduct, mindful of what the "P" in "CPA" is supposed to stand for: "" Then, ask yourself whether the AICPA's one-sided promotion of IFRS constitutes an attempt to serve or to fleece the public.(See especially the incessant and unrepentant cheerleading of its CEO, Barry Melancon, and the misleading white papers put out by the AICPA's Center for Audit Quality.) For legitimate acceptance of IFRS to occur, we need to hear from informed investors, and not just their putative surrogates, i.e., SEC and FASB, who receive far too much support from special interest groups to be legitimately perceived as being all for the investor all of the time.



Chairman Cox, ever the salesman, is fond of pointing out that the IFRS SPE rules seem to have worked better during the current subprime mortgage crisis than US GAAP's FAS 140; but, that's something of a red herring.That's why it is taking the SEC far too long to figure out how to reasonably implement S-OX among smaller reporting companies.As many are coming to realize, there is no good solution to that problem; far too many companies are going to be spending far too much money on their internal controls over financial reporting and receiving far too little benefit.Who knows whether the new Republican commissioner, Troy Paredese, also an academic, can rise above partisan politics to do the right thing for investors?


#6: GAAP Better Than the IFRS In 1999, the FASB concluded, in its extensive report on the similarities and differences between IFRS (technically IAS at the time) and US GAAP, that IFRS was lower quality than GAAP.So, with inspiration from Charles Niemeier, and apologies to David Letterman, here are my "Top Ten Reasons Why US Adoption of IFRS Is a Terrible Idea." #10: Another S-OX 404 Waiting to Happen It is a certainty that direct costs of conversion to IFRS will be in the billions of dollars, and much of it will go to auditors for new "services" like training, systems rejiggering and whatever else companies can be induced to pay for.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>