IASB and FASB agreement on convergence
30 Oct 2002
The International Accounting Standards Board and the US Financial Accounting Standards Board have jointly issued a memorandum of understanding, marking a significant step toward formalising their commitment to the convergence of US and international accounting standards.
The IASB and the FASB presented the agreement to the chairs of leading national standard setters at a two-day meeting in London on 28-29 October. Click for:
- Memorandum of Understanding (PDF 10k).
- Press Release (PDF 24k).
- SEC Press Release, "Actions by FASB, IASB Praised" (PDF 28k).
- EC Press Release, "Commission Welcomes IASB/FASB Convergence Agreement" (PDF 21k).
