The U.S. will probably adopt International Financial Reporting Standards, said Hans Hoogervorst, the new chairman of the London-based accounting organization IASB.
The U.S. Financial Accounting Standards Board, which wanted to expand the use of fair-value accounting to all financial assets, has dropped that model and "that has made talking to each other a lot easier," Hoogervorst told delegates at an IFRS conference in Zurich today.
"We still have quite a few things to resolve, but I'm positive about the outcome," Hoogervorst, a former Dutch finance minister, said in his first public speech since taking over from David Tweedie as chairman of the International Accounting Standards Board on July 1.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
