Europe Called Threat to Accounting Convergence

European "carve-outs" to accounting standards could disrupt globalization, the International Accounting Standards Board contends.

Alan Rappeport, CFO.com | US
October 18, 2007

ACCOUNTING PRACTICE CAN NOT SUBSTITUTE FOR RULE OF LAW

ARGUMENT: ACCOUNTING IS NOT A RULE OF LAW, IT IS A TRADITIONAL PRACTICE. POSITIVE SANCTION IS NOT A SUCCESSFUL STRATEGY FOR UNION. FOUNDATIONAL LAW IS A REQUIREMENT FOR FAIR TRADE WITHIN A COUNTRY AND GLOBALLY. THIS LACK OF REGULATION AND AUTHORITY, LACK OF VIABILITY IN GLOBAL MARKETS SEGMENTS, AND RISK AS TO SECURITY AND INTEGRITY, MAKE THIS VENTURE OF CONVERGENCE VERY TENACIOUS WITHOUT A COMMON GROUND OF LEGITIMATE CONSIDERATION THE POINTS OF THIS ARGUMENT ARE DEVELOPED FURTHER IN THE HURDLE RATE TO FAIR VALUE ACCOUNTING AND OTHER TOPICS ON THIS BLOG SITE. http://soxwhistleblower.blogspot.com/2007/10/hurdle-rate-rate-that-must-be.html RECOMMENDED SOLUTION: A COMPREHENSIVE REVIEW OF WORLD TRADE AND COMMERCIAL GOVERNANCE BY AN OBJECTIVE AND WELL FOUNDED GROUP OF PRINCIPALS WHOSE DETERMINATIONS WILL BE ACCEPTED ON A GLOBAL SCALE

Posted by Jean Marshall | October 19, 2007 10:04 am