IASB and FASB will meet monthly on convergence
30 Oct 2009
At an IFRS conference sponsored by the IASC Foundation and the AICPA in New York this week, IASB Chairman Sir David Tweedie and FASB Chairman Robert H Herz announced that the IASB and the FASB have agreed to meet monthly, for at least two days a month, starting in January 2010, to achieve the goal of converging IFRSs and US GAAP to the greatest extent possible by June 2011.
The joint meetings are expected to alternate between a video meeting in one month and a face-to-face meeting in the next month.