1887

n Professional Accountant - Framework for professional judgement - industry insights

Volume 2019 Number 35
  • ISSN : 1680-7537

Abstract

“Confidence in financial reporting and in principles-based standards requires us to demonstrate collectively that, as professionals, we are capable of making sound judgements. I believe that this professional judgement framework is vital for the future of the profession.” Sir David Tweedie, former Chair of the IASB and ICAS President 2012. Principle-based standards provide a framework within which the regulatory intention can be satisfied and complied with, and the economic substance of transactions faithfully represented, without the need for detailed rules.

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/content/journal/10520/EJC-16a336d1f6
2019-07-01
2019-10-17

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