07 May 2014
The International Accounting Standards Board (IASB) today published an updated Charter establishing key principles of co-operation between the IASB and national standard-setters and other accounting standard-setting bodies, represented by the International Forum of Accounting Standard Setters (IFASS).
The principles established by the Charter are designed to enhance the efficiency and effectiveness of international accounting standard-setting. The Charter;
The agreement of this Charter is consistent with the creation in 2013 of the IASB’s Accounting Standards Advisory Group, which serves as a formal platform for technical dialogue between the IASB and representatives of the accounting standard-setting community.
Hans Hoogervorst, Chairman of the IASB commented:
“This Charter highlights the importance of our partnership with national standard-setters and other accounting standard-setting bodies as an essential part of a multilateral model for global standard setting.
Input from the wider standard-setting community is central to our standard-setting and implementation activities, and is increasingly helpful to the IASB as we expand our research-based agenda, drawing on the expertise of our global stakeholders. I look forward to much successful collaboration in the future.”
View the Charter: The IASB and other accounting standard-setters Working together to develop and maintain global financial reporting standards.