IFRS developments emerge from AICPA/IASC foundation conference.

The AICPA AICPA

See American Institute of Certified Public Accountants (AICPA). and the International Accounting Standards Committee International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these Foundation cosponsored an IFRS conference late last month in New York. Several developments were announced at the event. Among them, the leaders of the Financial Accounting Standards Board Financial Accounting Standards Board (FASB)

Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). and the International Accounting Standards Board said they will begin meeting monthly to accelerate their efforts to develop a common set of accounting standards by their target date of 2011. Read the complete story and watch an exclusive video interview with conference speaker Paul Volcker, chairman of the President's Economic Recovery Advisory Board, on the effect of adopting IFRS on global capital markets.

In addition, Securities and Exchange Commission Chief Accountant James Kroeker confirmed the SEC's commitment to provide clarity by late December on its proposed roadmap for IFRS adoption. Read an article and watch a video of his remarks.

COPYRIGHT 2009 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.

Reader Opinion

Article Details
Printer friendly Cite/link Email Feedback
Publication:	CPA Letter
Article Type:	Conference notes
Date:	Nov 1, 2009
Words:	136
Previous Article:	AICPA calls for permanent, independent funding source for IASB.
Next Article:	AICPA speaks out on proposed tax rules.
Topics:	Accountants Conferences, meetings and seminars Accounting Conferences, meetings and seminars Standards Accounting standards Conferences, meetings and seminars Certified public accountants Conferences, meetings and seminars

Related Articles
AICPA Publishes IFRS.com Website to Inform Members and Financial Professionals About International Accounting Standards.
IFRS: leading companies, auditors, regulators all say, 'Start Now.
CPAs prepare for change in accounting standards.
IASB releases IFRS for private entities.
IASB concludes 2007-2009 annual improvements.
SEC eliminates reconciliation requirement for foreign companies; AICPA recommends SEC use international accounting standards.
AICPA submits comments on proposed changes to FAF, FASB and GASB; calls for panel to address IFRS for non-public organizations.
AICPA announces Web site on international financial reporting standards.
AICPA calls for three- to five-year timeline for transition to IFRS.
AICPA supports SEC proposed roadmap for transitioning to IFRS for public companies.