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EU Is to Ask IASB to Change Its Priorities to Include Public Policy Concerns
September 5th, 2011
Green MEP Sven Giegold tabled a question to the European Commission in July asking about the EU’s position on the IASB’s revision to its constitution that has downgraded its obligation to anyone but those people who use accounts to make investment decisions. I discussed that issue here. Now the Commission has replied as follows:
Answer given by Mr Barnier on behalf of the Commission The Commission shares the view of the Honourable Member regarding the importance of properly taking into account the public interest in the IFRS standards setting.
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The IASB Comes Clean: It Doesn’t Serve the Poor
June 28th, 2011
A new strategy review by the Trustees of the International Accounting Standards Board has clarified that its financial reporting standards will focus on the needs of ‘investors and other market participants’. This is a slap in the face for civil society, which has repeatedly made the case for the IASB to properly address the needs
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Shell’s Financial Transparency Claim Rings Hollow
March 4th, 2011
Better transparency in the extractive industries is essential, but, in all sectors, multinationals take advantage of the secrecy offered by the opaque financial system to avoid contributing to the societies from which they benefit. For this reason, country by country reporting must become a mandatory requirement for multinationals in all sectors – and for oil company executives like Peter Voser to attack such transparency suggests not only being out of touch with the political times, and indeed his own company’s position, but also a lack of concern for some of the poorest people on the planet. Wednesday, the Financial...
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India: a case of onions first, with a little help from country-by-country reporting
December 23rd, 2010
It seems right to juxtapose two articles in the FT over the last couple of days. First this:
Manmohan Singh, India’s prime minister, already under fire over a multibillion-dollar telecoms corruption scandal, suddenly has a more down-to-earth problem on his plate – the skyrocketing price of onions. Their price at India’s retail vegetable markets has doubled from Rs35 ($0.78) per kg to Rs80 in the past few days, angering consumers already feeling the pinch from a year of food price inflation and rising fuel prices.
And secondly this:
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