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GAAP.RUNewsIASB Expects Accounting Standards to Stabilize in 2011

IASB Expects Accounting Standards to Stabilize in 2011

Publication date: 17 March 2010

International Accounting Standards Board Chairman Sir David Tweedie told a group of European finance officials that the IASB and the U.S. Financial Accounting Standards Board are on track to converge their standards by June 2011, after which there will be a period of stability in accounting standards.

In an address during a meeting of the Economic and Financial Affairs Council of the European Union (or ECOFIN) International Accounting Standards Board Chairman Sir David Tweedie told a group of European finance officials that the IASB and the U.S. Financial Accounting Standards Board are on track to converge their standards by June 2011, after which there will be a period of stability in accounting standards.