RegulationAccounting StandardsIASB and FASB to hold crisis talks

IASB and FASB to hold crisis talks

Standard setters to hold a round table in London next week on financial reporting issues highlighted by the financial crisis

Transatlantic standard setters are to kick off a series of talks to address
reporting issues arising from the financial crisis next week.

The International Accounting Standards Board and the US Financial Accounting
Standards Board announced the first of three public round-table discussions will
start off in London on 14 November 2008.

‘The round tables are intended to help the [IASB AND FASB] identify any
accounting issues that may require the urgent and immediate attention of the
boards to improve financial reporting and help enhance investor confidence in
financial markets,’ the two boards said in a
joint
statement
.

The meetings will provide an opportunity for the two boards to hear input
from a wide range of stakeholders including users and preparers of financial
statements, governments, regulators and others.

‘Participants in the round tables will also be asked to identify issues to
which the boards should give longer-term consideration.

Dates for the other two round-tables to be held in Norwalk, Connecticut and
Tokyo will be announced shortly, the standard setters added.

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