Mohini Singh, director of financial reporting policy at CFA Institute, discusses the Financial Accounting Standards Board’s recent initiative to develop separate accounting standards for private companies. She provides background on the private company project, examines recent developments, and provides investor perspectives on the initiative.
Vincent Papa, PhD, CPA, FSA Credential, CFA, is director of financial reporting policy at CFA Institute. He is responsible for representing the interests of CFA Institute on financial reporting and on wider corporate reporting developments to major accounting standard setting bodies, enhanced reporting initiatives, and key stakeholders. He is a member of ESMA’s consultative working group for the Corporate Reporting Standing Committee, EFRAG user panel, and a former member of the IFRS Advisory Council, Capital Markets Advisory Committee, and Financial Stability Board Enhanced Disclosure Task Force. Prior to joining CFA Institute, he served in investment analysis, management consulting, and auditing roles.
Policy options open to the European Central Bank to rein in further increases in the value of the euro include cutting interest rates, signaling more quantitative easing or publicly advising against allowing it to rise, a tactic used by former ECB chief Mario Draghi. The euro has gained 10% in value since March, undermining attempts by ECB policymakers to stoke inflation. Bloomberg (tiered subscription model) (09 Sep.)
UK Northern Ireland Minister Brandon Lewis has acknowledged to a session of the UK parliament that the government's plan to change the terms of the Brexit transition deal made with the EU will breach international law. Theresa May, a former British prime minister, asked how the government could "reassure future international partners that the UK can be trusted to abide by the legal obligations of the agreements it signs?" Bloomberg (tiered subscription model) (08 Sep.)
The newest coronavirus aid proposal from Senate Republican leaders drops assistance for airlines and airports that was included in an earlier version. When the initial $25 billion of airline payroll support runs out this month more than 35,000 airline workers are on track to lose their jobs. Reuters (08 Sep.)
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