ASB holds hearing on future

The UK Accounting Standards Board is to hold a public meeting early next year
to discuss its future.

The board has produced two papers for discussion at the meeting on 19
January, the first setting out a revised convergence strategy with international
financial reporting standards and the second a strategy for influencing the
direction and development of IFRSs.

The ASB has been struggling to find its new identity since its standard
setting powers were largely usurped by the International Accounting Standards

Interested parties are invited to submit comments on the papers before the
meeting, which will be held at Grocers’ Hall, Princes Street, London.

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Fiona Westwood of Smith and Williamson.