Global Accounting Convergence: A Race to the Bottom?

I forgot last month to post this piece, published in the Accountancy Column of the Financial Times. Just before the Pittsburgh Summit of the G20, I looked at convergence between the two main remaining systems of accounting standards (IFRS and US GAAP), and conclude that the current convergence process is becoming increasingly dysfonctional.

Click here to download the piece, which correctly predicted that a reaffirmation of the convergence goal would be the main thing the G20 leaders would have to say about accounting in Pittsburgh.

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