The goal is convergence of national and international accounting standards. This is the second such meeting. In May, discussion centred on the following possible partnership approach:
- IASB and the national standard setters would agree on convergence projects and, to the extent possible, each would place them on their agendas.
- One national standard setter would be the leader on a project, one or more others would agree to provide project support resources, and one or more others would agree to be consultants.
- Flexibility would be needed to accommodate the varied due processes of the national standard setters.
Specific projects that will be discussed with the national standard-setters at the 10-11 September meeting are:
- First-Time Application of IAS
- Business Combinations
- Share-Based Payments
- Improvements to IASB Standards
IASB will meet on its own on 12-13 September when it is scheduled to discuss:
- Business Combinations
- Share-Based Payments
- Insurance Contracts
- First-Time Application of IAS