IASB, FASB Update MOU


The International Accounting Standards Board (IASB) and FASB published an update to their 2006 memorandum of understanding (MOU). The update reports the progress they have made since 2006 and sets the goal of completing their major joint projects by 2011.

“This update outlines a plan and projected timeline for completing the remaining joint major projects included in the MOU,” said IASB Chairman Sir David Tweedie, in a joint news release.

“We will continue our dual objectives of working toward global convergence while addressing reporting issues of critical importance to U.S. investors and financial markets,” said FASB Chairman Robert Herz, in the same news release.

Get a copy of the new timetable here.

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

PODCAST

How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.