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Article: FASB and IASB Agree to Work Together toward Convergence of Global Accounting Standards.
- Article from:
- Business Wire
- Article date:
- October 29, 2002
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Business Editors
LONDON--(BUSINESS WIRE)--Oct. 29, 2002
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have issued a memorandum of understanding, marking a significant step toward formalizing their commitment to the convergence of U.S. and international accounting standards.
The FASB and IASB presented the agreement to the chairs of leading national standard setters at a two-day meeting being held in London. The agreement between the FASB and IASB represents their latest commitment, following their September joint meeting, to adopt compatible, high-quality solutions to existing and future ...