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  I would like to pose a question being that my major is in accounting. I sit rying to figure out the question is that FASB and the IFRS going to merge or go to one or the other and how can I prepare for this change as far as school is concern. Do I h Kenneth Bledsoe
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  IFRS foundation and IASB should try to find a solution on new Fair value standard. They should not accept any interference from the AICPA / FASB / US-SEC to dilute the standard. US has made a case that last US-Financial meltdown was to a large ex Al Khan, CA
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  2 Mohit. Not too much, but still better than nothing: http://www.gaap-ifrs.com/special/tests/ifrs.asp Alexander Kurnikov

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Grant Thornton is to lose its audit of the City watchdog, as government proposals to force the Financial Services Authority to switch its auditor to the National Audit Office come into play.

Political pressure from MPs to change the FSA’s auditor to the NAO will see the regulator save around £100,000 a year, “The Independent” reports.

The savings come from paying for a commercial auditor fee, as the NAO doesn’t charge other government departments for its services.

A spokesman for the firm said: “We will complete our last audit: we’re not being fired. This is no reflection on the work we’ve done”.