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10Minutes on US financial reform
The Wall Street Reform and Consumer Protection Act significantly reshapes financial regulation by creating new regulators, regulating new markets, bringing new firms into the regulatory arena, and providing new rulemaking and enforcement powers to regulators. The Act gives regulators more tools to manage systemic risk, in order to prevent highly interconnected financial institutions from posing risk to the entire system. In this edition of 10Minutes, PwC offers a high-level overview of the new architecture of US financial regulation. Importantly, it highlights the five areas within the comprehensive and complex law that Corporate America should know about and follow.
PricewaterhouseCoopers
07/22/2010 |
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Point of View: Slowing down the pace of standard setting
The FASB and IASB are working on several joint projects designed to improve both U.S. generally accepted accounting principles and International Financial Reporting Standards. These projects are part of a wider goal to converge U.S. and International Standards in key areas by 2011. While convergence is an important component of achieving a single set of high quality global accounting standards, some question whether the current pace and timeline is realistic. PwC believes, that despite the recently announced modified strategy for certain projects, the timeline is still aggressive and does not allow enough time for constituent input and the boards' thoughtful rigorous processes in order to achieve the boards' desired high quality output. Read this PwC Point of View for additional background, analysis, and Q&A on these issues.
PricewaterhouseCoopers
07/08/2010 |
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