IASB and FASB will meet monthly on convergence

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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.

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