Financial Services Industry
Industry: Email Alert RSS FeedFASB, IASB form performance reporting working group
California CPA, Jan-Feb, 2005
FASB and the IASB have formed an international group working to help to forge new financial reporting standards.
The group will help the boards set standards for the presentation of information in financial statements as the two bodies continue to seek international convergence.
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Representatives of all types of entities are present in the working group, except one. The boards have not appointed representatives from financial institutions in the preparer category, deciding that the reporting needs of financial institutions should be considered separately from those of other sectors.
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