Standard Setters Schedule Round Tables on Global Financial Crisis


FASB and the International Accounting Standards Board (IASB) announced details of three public round-table discussions to identify financial reporting issues highlighted by the global financial crisis. The discussions will be held in London on Nov. 14, in Norwalk, Conn., on Nov. 25 and in Tokyo on Dec. 3.

The boards are using the round tables to help identify accounting issues that may require their immediate attention to improve financial reporting and help boost investor confidence in financial markets. Separately, the boards are creating an advisory group that will include senior leaders with broad international experience in financial markets. The advisory group will help ensure that reporting issues arising from the crisis are considered in an internationally coordinated manner. Insights from the three round tables will help the deliberations of the advisory group.

The Norwalk round table will be held at the FASB offices. Registration is required by Nov. 18. Information about related materials, timing and other specifics of the U.S. and Asian round tables will be posted soon on the FASB and IASB Web sites. Live audio webcasts of the Norwalk round table will be available via the FASB Web site; the international webcasts will be available via the IASB Web site. Information on the IASB’s response to the credit crisis can be found at www.iasb.org/credit+crisis.

Where to find February’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Get Clients Ready for Tax Season

This comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning.