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ICAEW spearheads international debate on how business reporting can be improvedThe Institute of Chartered Accountants in England and Wales (ICAEW) have recently issued a consultation paper, New reporting Models for Business, to stimulate a global debate on whether the current reporting model needs fundamental reform. It has deliberately chosen not to put forward yet another new reporting model, but instead analyses a representative sample of the range of existing models to establish why they have achieved limited success. Out of the anlaysis emerges 6 fundamental questions on which there is serious disagreement between the reformers and established opinion. The report concludes that whilst views on these issues are firmly held, they are often less firmly supported by evidence. More work is required, therefore, to underpin wholesale change to a new reporting model. Posted on 17 December 2003. Read more... PRISM Report 2003 now availableThe research findings and policy recommendations of the project are now available Posted on 25 November 2003. Read more... PRISM Seeks to Realign National Accounts, Financial ReportingThe European consortium PRISM (www.euintangibles.net), a high-level, Europe-wide group of academics, financiers, accountants, corporate managers and public policy makers, presented the findings of its groundbreaking study on Intangibles at the 2003 European Intangibles Summit held at Cass Business School, London on July 4, 2003. (www.internetprnews.com/prism). An important facet of the PRISM research called for realignment of many generally accepted accounting models - such as the IMF’s System of National Accounts (SNA) and traditional accounting models and financial reporting frameworks – to take into account the realities of modern economies and the logic of innovation and knowledge generation. Posted on 07 July 2003. Read more... |
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