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ICAEW concern about IASB's approach to convergence

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01 Nov 2003

In their comment letter to the IASB on , Disposal of Non-current Assets and Presentation of Discontinued Operations, the Institute of Chartered Accountants in England and Wales urged the IASB to focus its efforts on outstanding issues relating to the adoption of IFRS in 2005, rather than on convergence of IFRS and existing national GAAPs.

The Institute also challenged the IASB's underlying approach to convergence, as "it is not apparent that in developing ED 4 the Board has considered the merits of relevant GAAP other than the US Standard SFAS 144." Click for:

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