Communiqué from the Emerging Economies Group meeting in Buenos Aires published
Jun 06, 2012
The Emerging Economies Group (EEG) of the IASB met in Argentina on 28 and 29 May 2012. A communiqué from this meeting has been published today. The meeting reconfirmed the role of the EEG as the voice of the emerging economies in the process of IFRS standard setting.
The EEG was established by the IFRS Foundation to further enhance the influence of emerging economies in the development process of IFRSs and is a response of the IASB to the G20 recommendation to introduce more involvement from emerging economies into its standard setting.
Attendants at the Buenos Aires meeting included IASB Board member Amaro Gomes, IASB Director of International Activities and Chairman of IFRS Interpretations Committee Wayne Upton and delegates from Argentina, Brazil, China, Indonesia, Republic of Korea, Malaysia, Russia, Saudi Arabia, South Africa and Turkey. The topics discussed included agriculture accounting, accounting for telecommunication towers, clarification of terms in IFRSs and translation issues.
The next EEG meeting will be held in Sao Paulo, Brazil on 4 and 5 December 2012. The main discussion topic will be business combinations under common control.
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