Tag Archives: IASB

Forum for Standard Setters Formed

State Board Report July 2014 The Corporate Reporting Dialogue (CRD) was launched on June 17 at the annual conference of the International Corporate Governance Network (ICGN). Its goal is to bring together organizations that have significant international influence on the corporate reporting landscape. According to Huguette Labelle, who has been chosen to chair the CRD:…

FASB/IASB Agree on Revenue Recognition

State Board Report June 2014 Following years of discussion, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) announced on May 28 their converged standard on the recognition of revenue from contracts with customers. The previous requirements for International Financial Reporting Standards (IFRS) and for U.S. Generally Accepted Accounting Principles (GAAP)…

ASAF Holds First Meeting

State Board Report May 2013 Standard setters from all parts of the world came together for the first meeting of the Accounting Standards Advisory Forum (ASAF) on April 8-9, 2013 in London. The aim of the group is to provide a technical advisory body to the International Accounting Standards Board (IASB) for its development of…

Hansen Addresses SEC Roundtable

State Board Report July 2011 GAAP is integral to the State Boards’ complaint-based enforcement system, the yardstick for enforcement, NASBA Director-at-Large Gaylen Hansen reminded the Securities and Exchange Commission’s July 7, 2011 roundtable discussion on the potential impact of U.S. adoption of International Financial Reporting Standards. The more sets of standards there are, the more…

NASBA Rallies International Regulators

“Monetary Discipline Did Not Work” NASHVILLE, Tenn., October 7, 2010 — International regulators representing over 15 countries assembled in Madrid, Spain on September 30 – October 1, for the Third Annual NASBA International Forum. The Forum — established by the National Association of State Boards of Accountancy (NASBA) in 2008 — is a unique roundtable…

IFRS East Breakout

April 27, 2009 During the past several years, the move toward a single set of high quality, globally accepted accounting standards has gained momentum. For example, in 2005 the European Union began requiring companies incorporated in its member states whose securities are listed on an EU-regulated stock exchange to prepare their consolidated financial statements in accordance…

AICPA Analysis of Comment Letters SECs Proposal

April 27, 2009 U.S. Uniform CPA for the first time in the UAE Registration begins in May and International Administration set for August 2011 During the past several years, the move toward a single set of high quality, globally accepted accounting standards has gained momentum. For example, in 2005 the European Union began requiring companies incorporated…

NASBA’s Response to the IASCF Exposure Draft 9/15/08

September 15, 2008 This document contains a letter from NASBA to the Members of the International Accounting Standards Committee Foundation regarding Proposals for Change – Review of the Constitution: Public Accountability and the Composition of the IASB. See Full Document:Response to the IASCF Exposure Draft

Letter of Comment to SEC from NASBA 11/13/07

November 13, 2007 NASBA comments to the SEC on the “Concept Release on Allowing U.S. Issuers to Prepare Financial Statements in Accordance with International Financial Reporting Standards.” This process allows the best and most desirable characteristics of both accounting systems to be incorporated into a single set of converged accounting principles. Convergence will facilitate the…