Restructuring chronology
29 Jun 2001
A brief chronology of the restructuring of the IASC into the IASB, covering the period from 1996 to 2001
Events from 1996 to 2001
| Date | Event |
|---|---|
|
September 1996 |
IASC Board approves formation of a 'Strategy Working Party' (SWP) to consider what IASC's strategy and structure should be when it completes the 'Core Standards' work programme. |
|
December 1998 |
SWP publishes a Discussion Paper, Shaping IASC for the Future, and invites comments:
|
|
April - October 1999 |
Various meetings of SWP to discuss the comments on their initial proposal and to develop final recommendations. |
|
December 1999 |
SWP final report, Recommendations on Shaping IASC for the Future (PDF 89k). The IASC Board passes a resolution supporting the report and appoints a Nominating Committee for the initial Trustees. |
|
January 2000 |
Nominating Committee elects SEC Chairman Arthur Levitt as its Chair and invites nominations from public. |
|
March 2000 |
IASC Board approves a new Constitution reflecting the SWP proposals. |
|
May 2000 |
Nominating Committee announces the selection of the initial Trustees. Click for IASC Press Release (PDF 26k) |
|
May 2000 |
IASC Member Bodies unanimously approve the restructuring and the New IASC Constitution.Click for IASC Press Release (PDF 23k) |
|
June 2000 |
Trustees appoint Sir David Tweedie as the first Chairman of new IASC Board. Click for IASC Press Release (PDF 32k) |
|
July-December 2000 |
Trustees invite nominations for membership on the new IASC Board, narrow the list to approximately 45 finalists, and conduct interviews in London, New York, and Tokyo. |
|
December 2000 |
IASC Board approves a Statement to the new IASC Board commenting on projects to be carried forward and possible additional projects to be undertaken. See summary at Main Restructuring Page. |
|
January 2001 |
Trustees invite nominations for membership on the Standards Advisory Council |
|
January 2001 |
Appointments of the Members of the International Accounting Standards Board are announced. The new name of the standard-setting board is the International Accounting Standards Board. |
|
March 2001 |
IASC Trustees activate Part B of IASC's Constitution and establish a non-profit Delaware corporation, named the International Accounting Standards Committee Foundation, to oversee the IASB. |
|
April 2001 |
On 1 April 2001, the new IASB takes over from the IASC the responsibility for setting International Financial Reporting Standards. |
|
April 2001 |
First official meeting of the new IASB to adopt existing IAS and SICs and to deliberate its agenda and other issues. |
|
May 2001 |
IASB meets with chairs of those national accounting standards-setting bodies that have a formal liaison relationship with IASB - Australia/New Zealand, Canada, France, Germany, Japan, UK, and US - to begin coordinating agendas and setting out convergence goals. |
|
June 2001 |
IASB moves into new offices at 30 Cannon Street, London. Click for Photo of New IASB Offices.
|
