IASC Board approves transition statement
Dec 22, 2000
At its meeting last week, the outgoing IASC Board approved a statement that will be sent to the new IASC Board.
Among other things, the Board expressed a hope that its successor would continue work on the projects on:
- business combinations,
- present value,
- reporting financial performance,
- insurance,
- extractive industries, and
- financial instruments. In addition, the statement suggests two new projects:
- a project on convergence of national and international standards, and
- a new 'improvements project' to clean up relatively minor matters in the existing IASC Standards. Other possibilities noted for the new Board's work programme include:
- share-based payment,
- narrative reporting,
- inflation accounting, and
- a review of the IASC Framework.