The UK’s Auditing Practices Board (APB) has decided to defer its revision of the International Standard on Auditing (UK and Ireland) 700 (ISA 700) on the auditor’s report on financial statements, which it published for consultation in December 2004.

It …

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European internal commissioner Charlie McCreevy recognised that the current early stages of adoption of International Financial Reporting standards (IFRS) raised challenges in application and interpretation speaking at a recent European Federation of Accountants’ seminar on IFRS.

In particular, he said …

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