International Auditing and Assurance Standards Board and Quoted rate: Difference between pages

Revision as of 16:23, 19 November 2015

A rate expressed on the basis which is conventional in the market in which the parties are dealing or proposing to deal.

For example, in relation to interest rates in wholesale markets:

Short-term quoted rates are almost always nominal annual rates, either on a 360-day or 365-day basis
Longer-term rates are usually effective annual rates
Exceptions include the quotation of semi-annual rates in relation to many types of bond

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-(IAASB).
+A rate expressed on the basis which is conventional in the market in which the parties are dealing or proposing to deal.
-The International Auditing and Assurance Standards Board is an independent standard-setting body, established to serve the public interest by setting high-quality international standards for auditing, assurance, and other related areas, and by facilitating their adoption and implementation.
+For example, in relation to interest rates in wholesale markets:
+*Short-term quoted rates are almost always nominal annual rates, either on a 360-day or 365-day basis
+*Longer-term rates are usually effective annual rates
+*Exceptions include the quotation of semi-annual rates in relation to many types of bond
 == See also ==
-* [[Accounting Council]]
+* [[Day count conventions]]
-* [[Assurance]]
+* [[Nominal annual rate]]
-* [[Audit]]
+* [[Short term]]
-* [[Generally accepted accounting principles]]
+* [[Longer term]]
-* [[IFRS Foundation]]
+* [[Effective annual rate]]
-* [[IFRS Interpretations Committee]]
+* [[Semi-annual rate]]
-* [[International Accounting Standards Board]]
-* [[International Financial Reporting Standards]]
-[[Category:Accounting,_tax_and_regulation]]
-[[Category:Compliance_and_audit]]