John Fogarty: The ASB is responsible for developing and communicating comprehensive performance, reporting and quality control standards
and practice guidance that enable auditors of nonissuers to provide high-quality, objective audit and attestation services at a reasonable cost.
Additionally, he's pleased that the European Union (EU) decided to adopt the International Financial Reporting Standards
(IFRS), which "has led to 100 countries already using the standards
, plus a whole lot more starting to come in.
And despite the varied usage views presented in the introduction, there are only two classes of standards
and specifications to be considered: those that may be used with no restrictions and those documents requiring waiver.
Representatives of the RIM sector reviewed the standard
in light of various other relevant international and national standards
to determine if it should be adopted as a Jamaican standard
intact or if it needed to be adapted to reflect local conditions.
Its use of alternative accounting methods necessitates detailed rules to limit the extent to which management can defer losses and manage earnings by the selective recognition of gains and losses, and compromises our primary objective of providing principle-based accounting standards
The Joint Commission's change, evidenced in its new 2004 standards
and survey procedures, is a rocket boost into the 21st century.
Last fall, the Financial Accounting Standards
Board announced a convergence effort with the IASB and more recently that effort took on tangible meaning as FASB members unanimously agreed that stock options should be treated as an expense.
The proposed SASs were developed in response to the report of the Public Oversight Board Panel on Audit Effectiveness, an extensive study of audit performance with related recommendations to constituents, including recommendations to the ASB to increase the rigor and specificity of auditing standards
in various areas.
It also develops pool safety standards
through the standards
group, American National Standards
The focus on licensing standards
got a boost from the work of the National Board for Professional Teaching Standards
, even though the National Board was concerned more with certifying accomplished teachers than with state licensure.
On the surface, the globalization of standards
seems a simple issue, especially when couched in such slogans as "one standard
, one test, one time.
The Maximum Achievable Control Technology (MACT) standards
for reducing emissions of Hazardous Air Pollutants (HAP) could affect the operations of many iron and steel foundries.