The International Accounting Industry is re-examining its principals in order to make financial statements more useful to investors and to improve disclosure. The SEC is trying to strike a deal with the US GAAP to adopt international standards in an effort to create clarity in accounting . In this edition of Inside The Deal, Vince Pisano, partner at Paul, Hastings, Janofsky & Walker LLP speaks with The Deal's Ken Klee discusses why convergence of accounting rules only emphasizes the need for the use of "plain English" within financial statements. Watch the video after the break. - Maria Woehr
