'More regulation not answer for global accounting frauds'.

(From Business Line)

Prof. Behn said the International Accounting Standards Board has to be "principle-based and not rule-based."

Kolkata, Jan. 10 - MORE and more regulation is not the answer for accounting frauds, which have been rocking the corporate world in recent times, said Prof. Bruce K. Behn, President, International Accounting Section of the American Accounting Association.

Even as the global debate over the new corporate oversight environment in an era of tighter corporate governance rules continues, and as accounting professionals world over struggle to meet these new requirements, there has to be convergence between American accounting …