insto - Australian financial markets

The debate on accounting treatment of financial instruments is still far from resolved, with international standard setters working furiously to develop a raft of new rules, writes Bernard Kellerman.

Another round of potentially costly compliance regulations are being considered by accounting standards setters. Australian companies are at risk from a dramatic increase in costs and resources imposts under a proposed International Accounting Standards Board (IASB) standard that calls for companies to quantify and disclose their “aggressive tax positions”.

Will fiddling with the US accounting standards actually make Wall Street's near-bankrupt banks get better overnight? Non-accountants seem to believe it, writes Bernard Kellerman.