Questions for Comment from Roadmap

Just to ease your efforts, I’ve scanned through the 184 page SEC Proposed Roadmap to IFRS and have picked out the issues for which the SEC is requesting comment.  There are 66.  Comments due on or before February 19, 2009. Comments can be sent via e-mailto rule-comments@sec.gov.  Include “File Number 87-27-08″ on the [...]

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E.U. Bids to Buy IASB

In a move that should have sent tremors throughout the accounting world, the European Commission (executive branch of the European Union) on Monday, January 26, proposed funding the operations of the IASB (International Accounting Standards Board) and its parent organization IASCF (International Accounting Standards Committee Foundation).  The proposed level of funding is €15 million Euros [...]

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Mary Schapiro Shows Pluck

pluck (noun)
the trait of showing courage and determination
in spite of possible loss or injury
Mary Schapiro, recently confirmed chair of the SEC, responded to written questions posed by Senator Carl Levin (D-Michigan).  Her comments show considerable insight into the workings of government regulation.  Some are controversial.  I believe they reveal a seasoned regulator who pretty much [...]

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Changing of the SEC Guard

Christopher Cox’s resignation took effect on Tuesday.  An interim was appointed.  But the interim will be short serving.  Mary Schapiro was approved unanimously by the U.S. Senate yesterday.  Her term officially begins very soon.
I find her choice and approval to be very interesting.  Some major newspapers came out strongly against [...]

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One world-wide accounting language?

During her confirmation hearing, Mary Schapiro said, “I think we all can agree that a single set of accounting standards used around the world would be a very beneficial thing, would [enable] investors to compare companies around the world.”
I can understand why she would say this–she’s never had any graduate level eduction in financial accounting [...]

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Schapiro Surprise?

Yesterday brought a very big piece of news.  Mary Schapiro appeared before the U.S. Senate Committee on Banking, Housing and Urban Affairs.  A video of the appearance is here.    Here is my best attempt at transcripting the most relevant part of the hearing.
Senator Jack Reed (D-RI): Much of what you are going to do will [...]

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Barak Obama, Mary Schapiro and the SEC

The two issues everyone is talking about this week are (1) financial market regulation and what President-elect intends to do about it, and (2) editorials from the Washington Post and the New York Times opposing Obama’s intention to nominate Mary Schapiro as next Chairman of the Securities and Exchange Commission.  There is a third related [...]

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Harold Rosenbaum–CA Extreme

I came across the funniest, cleverest and most interesting contribution to Accounting and the Popular Culture.  It is:  Harold Rosenbaum, Chartered Accountant Extreme, or HR for short.  HR may have been viewed by kids, mostly, but the story, wit and satire are sharp enough to please the most discriminating adult.
HR is about a chartered accountant [...]

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