The Institute of Chartered Accountants in England and Wales says the International Accounting Standards Board and the U.S. Financial Accounting Standards Board should halt a decade-long attempt to harmonize bookkeeping rules for investors and instead work on establishing high-quality standards. "It is better that the IASB and FASB boards issue separate standards than deliver unsatisfactory compromise solutions or do nothing at all," said Nigel Sleigh-Johnson of the ICAEW.

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