FASB confirms that improvement of GAAP is its topmost priority

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

Jun 25, 2014

In the first speech of a FASB member after the IASB Vice-Chairman's speech warning against 'turning back the clock', the FASB has confirmed that while it will continue to work with the IASB to make accounting standards as comparable as possible its topmost priority is 'to improve and protect the quality of GAAP'.

The transcript of his speech is available on the FASB’s Web site.

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