IASB and FASB update their 'Memorandum of Understanding'

  • IASB FASB (combined) Image

11 Sep 2008

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have published an update of their 2006 Memorandum of Understanding (MoU).

The update:
  • reports on the progress they have made since 2006, and
  • sets goals for completing their major joint projects by 2011.
From the IASB's perspective, MoU projects that will be completed by 2011 include: The updated MoU also mentions the Conceptual Framework projects but does not identify specific goals for 2011. Click for Press Release (155k), which includes the updated text of the MoU. The two boards will hold their next joint meeting on 20 and 21 October at FASB's offices in Norwalk, Connecticut.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.