News Article - 24 April 2007
Category:

Trustees of the International Accounting Standards Committee Foundation (IASCF) have called for greater levels of focused interaction with the International Accounting Standards Board (IASB).

Following a recent meeting, the body said it would like to create more opportunities in which trustees and the IASB could discuss certain points.

In addition, the IASCF has decided it will now start issuing feedback statements when announcing new standards. The statements will provide an explanation of the approach taken by the body in addressing the main themes noted during the comment letter process.

By doing this, the organisation hopes to show more fully its consideration of respondents' comments as part of the base for conclusions.

Philip Laskawy, chairman of the trustees, said that the IASCF was seeking to improve its operations.

"We continue to make progress on a number of fronts and I believe that the steps we have taken at this latest trustees meeting provide a firm basis for the IASB to continue the progress it has made towards its goal of delivering high quality, understandable and enforceable global accounting standards," he said.

Earlier this month, the IASCF published proposals to increase the size of its International Financial Reporting Interpretations Committee from 12 to 14 voting members.

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »