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.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED REPORT

Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.