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

Implementing a global statutory reporting maturity model

Assess your organization's capabilities and progress toward an ideal state of global statutory reporting. Sponsored by Workiva.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.