IASB backs away from convergence goal

02/15/2010 | Financial Times (tiered subscription model)

The International Accounting Standards Board's oversight body said convergence with the Financial Accounting Standards Board of the U.S. is a way to facilitate and promote adoption of International Financial Reporting Standards, "but it is not an objective in itself." Accounting standards have become increasingly politicized, making it more difficult to achieve convergence, regulators and accountants said.

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