FASB chairman Robert Herz announces that a public forum, slated for June, will kick off an effort to move American companies to international accounting standards.
Mark June 16 down in your BlackBerry. It's the day the Financial Accounting Standards Board and the Financial Accounting Foundation will host a public forum to discuss a new national blueprint for moving the United States to international financial reporting standards.
The forum, to be held at Baruch College in New York, and run from 9:00 am to 4:00 pm, will include participation by the American Institute for Certified Public Accountants, the Internal Revenue Service, the Securities and Exchange Commission, the Public Company Accounting Oversight Board, business representatives, educators, and lawyers, who will discuss the stumbling blocks on the way to setting up international accounting standards.
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FASB chairman Robert Herz made the announcement at a conference on Thursday, also held at Baruch College, and noted that the board continues to work with the International Accounting Standards Board (IASB) on their convergence project to create "something better than either U.S. GAAP or IFRS alone."
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