IASB will meet with national standard setters

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29 Aug 2001

The IASB will meet with representatives of eight national accounting standard setters in London on 10-11 September to continue to develop a programme of partnership on certain technical agenda projects.

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

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