Speech by Hans Hoogervorst: ‘Bad accounting breeds bad policies’

Hans Hoogervorst, Chairman of the International Accounting Standards Board (IASB) said in a speech in Edinburgh, Scotland;
everybody is best served by accounting that reflects the economic reality, even if it makes for uncomfortable reading.
He also said Bad accounting breeds bad policies‘.
Follow for the press release and speech.
What do you think of Mr. Hoogervorst’s statements?
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