Accounting Standard Setters To Hold First Round-Table On Financial Crisis
The International Accounting Standards Board (IASB) and the US Financial Accounting
Standards Board (FASB) have announced that the first of three public round-table
discussions to identify financial reporting issues highlighted by the global
financial crisis will be held in London on November 14, 2008. Further dates for the round-table discussions to be held in the US state of
Connecticut and Tokyo will be announced shortly, the boards stated earlier this
week. The rationale behind the round-table meetings is to provide an opportunity
for the two boards to hear input from investors, preparers of financial statements,
governments, regulators and others regarding the ongoing financial turmoil.
The meeting will also propose ways in which financial reporting can be improved
to help enhance investor confidence in financial markets, and 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 composition of the advisory group is due to be announced
shortly. .
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