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Article: Graham Ward, CBE, FCA: a matter of principles; IFAC's president says that convergence of international accounting and audit standards requires a change in the U.S. legal climate.(International Federation of Accountants)(Interview)
- Article from:
- Internal Auditor
- Article date:
- October 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Institute of Internal Auditors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HALFWAY THROUGH HIS TWO-YEAR TERM, INTERNATIONAL Federation of Accountants (IFAC) President Graham Ward has set his sights on bringing the world's historically disparate accounting and audit standards into line. Ward believes that a uniform set of worldwide standards is crucial for making accounts transparent to global investors and for making them relevant to all enterprises. One sticking point has been the different legal climates in Europe and the United States, which have encouraged divergent approaches on each side of the Atlantic. Another has been the lack of rigorous standards in some developing countries.
As head of IFAC, Ward's job is to overcome those ...