The European Union’s Role in International Standards Setting
Will Bumps in the Road to Convergence Affect the SEC’s Plans?

By Kennard S. Brackney and Philip R. Witmer

NOVEMBER 2005 - The move toward accounting harmonization centers around the standards being developed by the International Accounting Standards Board (IASB). Presently, 65 countries require their listed companies to use the IASB’s International Financial Reporting Standards (IFRS). That total approaches 100 when including countries that allow their companies to use IFRSs and countries that require only certain companies to use them. The harmonization movement received a significant boost in 2002 when the European Union (EU) adopted a regulation requiring public companies to convert to IFRSs beginning in 2005. The EU now accounts for more than a third of the countries that prescribe application of IASB standards.

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Innovations in Auditing

This special issue of The
CPA Journal
analyzes current auditing practice and the implications of the Sarbanes-Oxley Act. Click here



Publisher's Column

Tax Planning for Military Personnel

Over 100,000 military personnel have been deployed to the Middle East and Central Asia; thousands of reservists and National Guard members have been called up in the global war on terror. Tax professionals are likely to encounter more individuals, either military personnel themselves or their dependents, with military tax issues. Full Story

Interstate Compact: Regulating the Profession as Practiced

In 2003, I presented for discussion the concept of an interstate compact to set consistent multistate or nationwide accounting standards. An interstate compact is a contract between states that allows them to solve multistate, regional, and national problems through voluntary agreement.
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‘The Future of the Accounting Profession’ Reportn

Founded in 1950 by Dwight Eisenhower as an affiliate of Columbia University, the American Assembly(www.americanassembly.
) is a national, nonpartisan public affairs forum “illuminating issues of public policy by commissioning research and publications, sponsoring meetings, and issuing reports, books, and other literature.” Full Story

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

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