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The accounting standards Board has launched a consultation by expanding international standards of financial reporting (IFRS) all companies to smaller in Britain. ?

In a statement, the NCC said that the new system would cost an estimated ￡ 78.9 m to introduce, but insists on the fact that it would be worth.

Standards, which are currently mandatory for companies portfolio, has been criticized as "deeply flawed" by some experts.

Tuesday, Lord Lawson, who sits on the House of lords Economic Affairs Committee said the evidence that he saw gave her concerns that he has "serious problems" with the British Columbia Colombia accounting standards.

Former Chancellor said that the system may have hidden risks in British and Irish banks that caused the institutions to explode during the financial crisis.

In his statement, the CNC acknowledged controversy by saying "know that there are differing views".Cependant recommended body standards as being necessary to "simplify" the current; rulesShorten the rule-book of 2,000 pages 400; and reduce the "field for error checking.

However, critics say the new standards will take measurements of life risk UK standards could make work more easy for accountants, but at a potential cost to RTI stakeholders ' others pointed out that book accounting rules has doubled size under the direction of the day-to-day management of the BSA.

David Loweth firmly rejected accusations that the accounting profession was gain most of the modification of the règles.Il said Daily Telegraph: "the new standards of would modernise and simplify the system of accounts that provide clear views on the financial statements for the benefit of investors and owners of the company."

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