Financial reporting: The heart of the issue
In December 2008, the GAA published its report Getting to the heart of the issue – Can financial reporting be made simpler and more useful which was based on a series of interviews conducted in 2008 with financial regulators from the UK, Canada, China, the United States of America, South Africa, France, the European Commission as well as international regulators.
Interviewees also included a leading US litigation lawyer and representatives of the world's leading accounting and auditing practices.
The research was undertaken to consider the barriers to the implementation of a more principles based accounting regime, and the increasing complexity and detail in company financial statements. ICAS is pleased to have led this project for the GAA, through David Wood, Executive Director, Technical Policy, chairing the Project Team and undertaking a number of the interviews.
Download: Getting to the heart of the issue