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IASB and FASB Reaffirm Commitment to Memorandum of Understanding

"Today, as a further affirmation of that commitment, the IASB and FASB issued a joint statement describing their plans and milestone targets for completing the major MoU projects in 2011. The statement,which is available by clicking here[PDF] also describes the values and principles underpinning the Boards’ collaboration and significant successes achieved thus far.  In affirming their commitment to developing a common set of high quality standards, the Boards took note of the support of the leaders of the Group of 20 nations, the Financial Crisis Advisory Group of the FASB and IASB, and the Monitoring Board of the International Accounting Standards Committee (IASC) Foundation for the joint convergence efforts underway..."
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Source: IASB - International Accounting Standards Board