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Aiming for Global Accounting StandardsThe International Accounting Standards Board, 2001–2011$
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Kees Camfferman and Stephen A. Zeff

Print publication date: 2015

Print ISBN-13: 9780199646319

Published to Oxford Scholarship Online: June 2015

DOI: 10.1093/acprof:oso/9780199646319.001.0001

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The IASB Sets its Agenda

The IASB Sets its Agenda

‘Improvement, Convergence, Leadership’

Chapter:
(p.93) 5 The IASB Sets its Agenda
Source:
Aiming for Global Accounting Standards
Author(s):

Kees Camfferman

Stephen A. Zeff

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199646319.003.0005

The IASB was free to set its own agenda of technical projects, building on the inherited corpus of IASC standards. A part of the initial agenda continued the IASC’s policy of improving standards in order to gain acceptance by securities regulators, organized in IOSCO. Another element was the notion of convergence, initially conceived of as multilateral convergence of IFRSs and the best standards from a range of countries, but increasingly thought of as convergence of IFRSs and US GAAP. Thirdly, members of the IASB Board drew on their experience to select issues that had already attracted the attention of standard setters in the 1990s. IFRS 2 on accounting for share-based payment was one of the IASB’s early successes. Conversely, the IASB was unable to bring projects on performance reporting and insurance contracts to a swift conclusion.

Keywords:   standard setting agenda, improvements project, convergence, share-based payment, insurance contracts, performance reporting, business combinations, first-time adoption of IFRSs

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