Standards convergence is on track, IASB says

03/17/2010 | Reuters · WebCPA

International Accounting Standards Board Chairman Sir David Tweedie said the board and the Financial Accounting Standards Board are poised to reach a consensus on a single set of rules by mid-2011. "In our soon-to-be-published report, the boards will state that despite the challenging technical issues to resolve, we remain on schedule to achieve the June 2011 target," Tweedie said. "These intensive discussions are achieving positive results. We plan to publish seven joint proposals in the next quarter. The boards individually will also propose other changes to bring their own standards in line with each other."

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Reuters · WebCPA