The Association of Chartered Certified Accountants Hong Kong (ACCAHK) has expressed support for a move by the local Institute of Public Certified Accountants to fully converge with the international financial reporting standards due to become effective on 1st January 2005.
ACCA, with over 100,000 certified accountants in 160 countries, has long advocated a move towards harmonisation on global accounting standards.
"The move towards IFRS is happening all round the world. One of the challenges for everyone involved in the accountancy or finance profession is to understand fully what it will mean for them," noted Victor Ng, President of ACCAHK.
He added: "ACCA has led the way in the accountancy profession by using international accounting standards as the basis for its syllabus since 1996, and that makes ACCA-trained professionals more ready to meet the challenge.
The proposal to have a separate set of financial reporting standards for small and medium-sized entities has also been supported by ACCAHK.
“A common set of standards could help SMEs that trade across borders", Mr Ng explained.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment