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Financial Stability Board welcomes IASB progress

  • FSB (Financial Stability Board) (lt green) Image

10 Jan 2010

The Financial Stability Board (FSB) met in Basel on 9 January 2010 to take forward its regulatory policy reform agenda and reaffirm the timelines for policy development and implementation in 2010. The meeting also agreed on a framework for strengthening adherence to international standards, and reviewed current conditions and adjustment in the financial system.

Regarding IFRSs, the Report of the Meeting (PDF 42k) states:

Strengthening accounting standards. As requested by the G20 Leaders, the FSB continues to monitor progress in implementing G20 and FSB recommendations for improved, converged accounting standards. FSB members welcomed the IASB's plan to continue its enhanced technical dialogue with prudential authorities and market regulators on financial institution reporting issues, and to conclude its full review of the financial instruments standard by the end of this year.

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