Monday, June 07, 2010

IASB considers delaying convergence timetable


"We are considering re-jigging the work plan to limit the number of major consultations at one time and to prioritise the most important projects" source claims

The world’s accounting rulemaker is considering “re-jigging” it’s convergence timetable to offer respondents more time to mull over new accounting rules.

The International Accounting Standards Board (IASB) plans to converge its accounting code with its US counterpart, the Financial Accounting Standards Board (FASB), by a June 2011 deadline laid down by the G20.

See full Article.