IASB and FASB seek to reduce differences in classification and measurement models for financial instruments

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27 Jan 2012

At today's joint IASB meeting with the Financial Accounting Standards Board (FASB), the Boards agreed to work together to find ways to reduce differences in their respective classification and measurement models for financial instruments.

The discussions will shape the FASB’s ongoing redeliberation of a proposed Accounting Standards Update on financial instruments, while the IASB will consider these discussions as part of its project to undertake limited-scope changes to IFRS 9, Financial Instruments.

Click for the press release on the IASB's website. Also, see our Classification and Measurement session notes taken by Deloitte observers at today's meeting for more information.

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