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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.
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Publication:CPA Letter
Article Type:Conference notes
Date:Nov 1, 2009
Words:136
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