The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have announced that the first of three public roundtable discussions to identify financial reporting issues highlighted by the global financial crisis will be held in London on 14 November 2008. Dates for the round-table discussions to be held in Norwalk (Connecticut) and Tokyo will be announced shortly.
The round-table meetings are meant to provide an opportunity for the two boards to hear input from a wide range of stakeholders, including users and preparers of financial statements, governments, regulators and others. The roundtables are intended to help the boards identify any accounting issues that may require the urgent and immediate attention of the boards to improve financial reporting and help enhance investor confidence in financial markets. Participants in the round tables will also be asked to identify issues to which the boards should give longer-term consideration.
The boards have also announced the establishment of an advisory group of senior leaders with broad international experience of financial markets to provide advice to the boards. The insights gained at the round tables will help the deliberations of this group. The composition of the advisory group will be announced shortly.
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