IASB statement on relationships with standard setters
07 Apr 2006
The IASB has published a Statement of Best Practice: Working Relationships between the IASB and other Accounting Standard-Setters (PDF 166k).
The Statement identifies a range of activities that the IASB and regional and national accounting standard-setters believe they should undertake in the interests of facilitating the adoption of or convergence with IFRSs issued by the IASB. Those activities include:
- Communication, both between standard-setters and their constituents and among standard-setters themselves.
- Project development, including the ways in which other accounting standard-setters can assist the IASB in progressing particular projects.
- Input on IASB consultative documents.
- The processes and approaches other accounting standard-setters might employ in adopting or converging with IFRSs.
- Co-operation in the development of interpretations of IFRSs.