International Accounting Standards Board


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International Accounting Standards Board (IASB)

The group that creates and issues the International Financial Reporting Standards (IFRS). It is the successor to the IASC (International Accounting Standards Committee,) which created the IAS (International Accounting Standards).

International Accounting Standards Board (IASB)

A privately funded, London-based organization whose goal is to establish a single set of enforceable global financial reporting standards. The IASB was originally formed in 1973 as the International Accounting Standards Committee.
References in periodicals archive ?
Golden articulated his vision for the standard setter, which "includes completing our joint projects now underway with the International Accounting Standards Board, developing a new model for our global relationships and determining a new, updated agenda for the FASB."
* Comments on IAS 12, Deferred Tax Accounting for Intercompany Profits in Inventory, filed with the International Accounting Standards Board (7/27/04).
At an international level, the Toronto Valuation Accord group continues to support the International Valuation Standards Committee (IVSC) in its work to ensure valuation standards are consistent with and complementary to the financial reporting standards being developed and promulgated by the International Accounting Standards Board.
The International Accounting Standards Board (IASB), the United Kingdom Accounting Standards Board (ASB), and the United States Financial Accounting Standards Board (FASB) (collectively, the Boards) are forming an International Advisory Group to assist the Boards in their project to improve the information presented in the financial statements of business enterprises.
The day the FASB released the new Exposure Drafts, the International Accounting Standards Board (IASB) said it welcomed their release.
She earlier was a member of the Standing Advisory Committee to the International Accounting Standards Board and serves as deputy chair of the Financial Reporting Standards Council of South Africa.
Herz had served as chairman of the Financial Accounting Standards Board from July 2002 to September 2010, and was previously a member of the International Accounting Standards Board.
The International Accounting Standards Board and FASB issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards and U.S.
This edition follows soon after the previous to keep up with the accelerated pace of convergence in accounting standards by the International Accounting Standards Board (IASB) and in the US by the Financial Accounting Standards Board (FASB).
"Although the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have been working on converging their standards for a number of years, the boards' current timeline has been influenced by the G20 finance ministers' interest in these matters," said Ernst & Young Bahrain managing partner Essa Al Jowder.
Among them: "One size does not fit all;" any guidance on content from the International Accounting Standards Board must be general in order to allow each company to provide insights about the particular company and situation; and achieving balance between guidance and prescription was important but could be difficult for IASB to achieve.
Michel Barnier, the EU's internal market commissioner, has hailed the appointment of ex-Dutch Finance Minister Hans Hoogervorst as head of the International Accounting Standards Board, the international standard-setter.

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