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February 02, 2012


Phil Wilson

Don't always agree with you, but you nailed this one!

Kalin Kalev

Dear Mr.Selling,

Admirations to your blog. Just one of the best.
Know that even in Bulgaria your blog is read.
Can you answer to a very simple questions that i am confused and it is interesting to know your opinion: What is the difference between transparent financial reporting and high-quality financial reporting?
Is there such one?

Again admirations,
Kalin Kalev

Milton Bradford

Mr. Bestwick's question makes me think he lives in a world where there are no heros or courageous people. If France wants to miff the process, the courageous thing to do would be to call off the convergence. Courageous people also face the existing reality(ies). In this case, your statement that "there will always be forces standing on guard to break apart what has been converged" means many people are wasting their time--ten years so far.
I will add my compliments to your blog.


My Thought on IFRS:
Many of these differences are not very
important. But getting rid of them through a
process of convergence could take up many,
many years. That is why I am even more
convinced that it is not in the best interests
of investors in the US or anywhere else in
the world to spend another 10 years seeking
to eliminate ever-smaller differences, which
entail significant costs for change without
much incremental benefit. That is also why
the time is right for a positive decision on
the incorporation of IFRSs into the US
financial reporting regime.

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