Standard setting in an age of complexity

A growing dialogue has developed in recent years about the future of financial reporting and the relevance and complexity of today’s reporting model. PricewaterhouseCoopers and the other large accounting firms have engaged in discussions with stakeholders around the world on a number of issues critical to the long-term strength and stability of the capital markets, including financial reporting. These discussions have indicated overwhelming support for IFRS as a single set of high quality accounting standards that can be used around the world. (Read IFRS News – Shedding light on the IASB’s activities.)