Final Communique from IOSCO's annual conference

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16 Apr 2007

The International Organization of Securities Commissions (IOSCO) held its 32nd Annual Conference on 9-12 April 2007 in Mumbai.

The Final Communique  (PDF 48k) of the Conference made the following comments about IFRSs:

The need to progress toward internationally recognised financial reporting standards has been a central issue in the global financial services markets for some time. IOSCO has done much in this field and has consistently focused on convergence, implementation and also application, through the building of an IOSCO Database which is administered by the IOSCO General Secretariat that will facilitate the sharing by securities regulators of decisions relating to the enforcement of IFRSs. In January 2007, the IOSCO IFRS Database became fully operational and the indications are that the database will provide a useful reference source for regulators that will further aid coordination and convergence.

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