IASB agrees charter of mutual co-operation with accounting standard-setting community

 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.