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The future of UK GAAP

The UK’s Accounting Standards Board (ASB) has recently issued proposals on the future of UK Generally Accepted Accounting Principles (UK GAAP), with the publication of two Exposure Drafts (EDs) that could consign UK GAAP as we know it to the history books. These EDs represent the output of a consultation which began in the summer of 2009 and could lead to big changes in the financial reporting by, and reduced comparability in the financial statements of, companies.

The future of UK GAAP

 

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