Report reviews IASB work on financial-reporting standards

03/4/2014 | ValueWalk

A report from Citi Research looks at the International Accounting Standards Board's major projects for revising reporting standards. While the body didn't deliver final standards in 2013, the report authors expect that the IASB will publish two new standards, on revenue and financial instruments, in 2014, and make significant progress on the standards for insurance and leases. The authors opined that the planned insurance standards would offer substantial improvement because there is no IFRS framework for accounting for insurance liabilities.

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