FASB issues two convergence exposure drafts
10 Oct 2008
The US Financial Accounting Standards Board has issued two separate but related Exposure Drafts for public comment.
The two proposed FASB Statements, Going Concern and Subsequent Events, would:
- incorporate accounting guidance that originated as auditing standards into the body of authoritative literature issued by the FASB, and
- converge US GAAP generally accepted accounting principles and International Financial Reporting Standards.