This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Former Chairmen of IASB and FASB share thoughts on convergence

  • IFRS - IASB Image
  • FASB (US Financial Accounting Standards Board) (lt blue) Image

May 22, 2015

On May 22, 2015, a recording of an exchange between former IASB Chair Sir David Tweedie and former FASB Chair Robert Herz recorded on April 1, 2015 where they discussed their vision of “Accounting Standards for Global Capital Markets: Past, Present, and Future” at Baruch College in New York City has been made available.

Mr, Herz stated that "I think right now, for good or for bad, in the U.S. we have become very comfortable with the idea that we’ll have U.S. GAAP. If there are things in IFRS that we kind of like or the markets like, maybe we’ll consider adopting those, but there’s no systematic program to further converge at this point".

Mr. Teedie replied that “You can have international standards without the U.S., but you can’t have global standards without the U.S.”.

Please click to access the recording of the discussion, which lasted about one hour, on the Baruch college website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.