Views on improving the integrity of global capital markets
27 January 2014

Investor Education: IASB Plugs Loopholes in Off-Balance Sheet Accounting (Video)

The recent financial crisis shed light on several loopholes in off-balance sheet accounting that affected the transparency of reporting entities, including inconsistent application of the accounting standards. In response to calls from a broad array of stakeholders — including the G20 — the International Accounting Standards Board (IASB) updated its requirements for consolidation and disclosure of structured entities.

IASB member Patrick Finnegan, CFA, Fred Nieto of the IFRS Education Initiative, and Vincent Papa, PhD, CFA, director of financial reporting policy at CFA Institute, discuss IASB efforts to plug loopholes in off-balance sheet accounting. They examine the rationale for changes and what investors can expect from updates to related accounting and disclosure standards.

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About the Author(s)
Sandy Peters, CPA, CFA

Sandy Peters, CFA, is head of financial reporting policy and serves as spokesperson for CFA Institute to key financial reporting standard setters including the IASB, FASB, and the US Securities and Exchange Commission. She holds the Certified Public Accountant (CPA) designation.

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