IASB-FASB credit crisis update

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25 Mar 2009

The International Accounting Standards Board and the US Financial Accounting Standards Board have announced further steps in response to the global financial crisis following their joint board meeting held in London on 23 and 24 March 2009. Building on work underway, the two boards have agreed to work jointly and expeditiously towards common standards that deal with off-balance sheet activity and the accounting for financial instruments.

They will also work towards analysing loan loss accounting within the financial instruments project. Click for Joint Press Release (PDF 50k).

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