When it comes to the internet, innovation has far outpaced regulation - until now. A perusal of the developing standards of online disclosure and the ways in which IROs are finding firm footing
At the end of 1999 the International Accounting Standards Committee (IASC), the Financial Accounting Standards Board (Fasb) and the Canadian Institute of Chartered Accountants (CIAA) all released independent reports saying that online financial reporting needs to be standardized. These reports spelled out in simple terms what IROs have themselves known: The paradigm of electronic disclosure is different from hard copy disclosure; the demand for more timely corporate information is increasing;
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