RegulationAccounting StandardsInternational standard setters review strategy

International standard setters review strategy

International standard setters ask for comment on 10-year works review and current strategy

THE INTERNATIONAL Financial Reporting Standards Foundation has issued a strategic review of its work in the decade since its formation.

Describing the next 18 months as “critical”, the body – which has yet to resolve a number of key global standard-related challenges – is asking for comment on its strategy and vision.

Focus points include greater transparency in the resolution of technical issues and reconciliation of differing viewpoints. The International Accounting Standards Board also reiterated its commitment to a principles-based approach and highlighted the importance of consistent application.

Commentators have until 25 July to respond and a number of public round tables are planned in the intervening weeks to “enhance stakeholder involvement”; these will take place in Hong Kong, London, New York and Tokyo.

Related Articles

IASB overhauls insurance accounting with issuance of IFRS 17

Accounting Standards IASB overhauls insurance accounting with issuance of IFRS 17

7m Alia Shoaib, Reporter
Sports Direct implements FRC corrections in annual reporting

Accounting Standards Sports Direct implements FRC corrections in annual reporting

1y Stephanie Wix, Writer
Former CFO joins IASB board

Accounting Standards Former CFO joins IASB board

1y Stephanie Wix, Writer
Cashflow statement improvements targeted by watchdog

Accounting Standards Cashflow statement improvements targeted by watchdog

1y Stephanie Wix, Writer
FRC expects Brexit narrative within annual reports

Accounting Standards FRC expects Brexit narrative within annual reports

1y Stephanie Wix, Writer
FRC consults on approach to updating FRS 102 for changes in IFRS

Accounting Standards FRC consults on approach to updating FRS 102 for changes in IFRS

1y Richard Crump, Writer
MEP calls for IASB pay cuts

Accounting Standards MEP calls for IASB pay cuts

1y Richard Crump, Writer
IASB issues amendments to insurance contracts standard

Accounting Standards IASB issues amendments to insurance contracts standard

1y Richard Crump, Writer