However, in 2001 a newer set of standards, called the international financial reporting standards were put into place by the International Accounting Standards Board. This allowed a degree of wider participation in the standard-setting work even though in practice a large proportion of the responses came from accountancy bodies, audit firms and national accounting standard setters. Camfferman and Zeff, 2007, Chapters 4, 6, 8; Appendix 3. The IASC Foundation (IASCF) has appointed Scott Evans as a Trustee of the IASCF beginning 1 January 2009. The code of ethics of for professional accountants of IFAC, issued by an independent standards board, serves as an international model. 2007 SEC votes unanimously to accept from foreign private issuers financial statements prepared If you like to contribute to our blog please contact us at details given on contact us page. The IASB and IASCF have completed the third three-day workshop to 'train the trainers' on the IFRS for Small and Medium-sized Entities. The staff and the Trustees of the IFRS Foundation and the International Accounting Standards Board have released condolences on the death of Paul Volcker, inaugural Chairman of the IFRS Foundation (formerly IASC Foundation) Trustees, serving from 2000 until 2006. Based on a table prepared for The International Accounting Standards Committee: A Political History, by Robert J Kirsch, published in February 2007 by WoltersKluwer/CCH. Denmark became a member in 1988, replaced in 1990 by the Nordic Federation of Public Accountants (represented by Danes, Swedes and Norwegians, since the Fins and Icelandics were not interested in participating). In 1977, the IASC's Constitution was changed to allow for the appointment of two additional board members for four-year terms, on a rotating basis. About the Accounting Standards Board. International Financial Reporting Standards (IFRSs). Between 1973 and the change in the IASC's Constitution which made all IFAC members IASC members, a total of 46 accountancy bodies were admitted as associate members,[4] including:[5] the New Zealand Society of Accountants (1974); the Institute of Chartered Accountants of Pakistan and the Pakistan Institute of Industrial Accountants (1974); the Singapore Society of Accountants (1975); the Hong Kong Society of Accountants (1975). Notes: 1 10.76 square feet = 1 square metre 2 With an entrance also at 52 - 54 High Holborn 3 As estimated by Allan Cook, then IASC Secretary. In 1996, the IASC set up a Standing Interpretations Committee (SIC), charged with issuing interpretations of standards on relatively narrow issues arising in practice. We are grateful to the author and publisher for permission to post this information. Hans Burggraaff (The Netherlands, 1980-1982), George Barthès de Ruyter (France, 1985-1987), This page was last edited on 27 September 2020, at 05:08. Since then the International Accounting Standards Board/Committee for the most part has been responsible for establishing the accounting standards that is comprised of the generally accepted accounting … The Strategy Working Party published its Report, in the form of a Discussion Paper, in December 1998. A committee that assists the International Accounting Standards Board (IASB) by providing guidance on the application and interpretation of International Financial Reporting Standards. 1996: The International Association of Financial Executives Institutes. A new IASB Constitution took effect from 1 July 2000. The report includes a comprehensive account of the activities of the IASCF and the IASB during 2008, as well as audited financial statements and details on the funding of the organisation. The IFRS Taxonomy 2008 is a complete translation of International Financial Reporting Standards (IFRSs) as published in the IFRS Bound Volume 2008 into XBRL, an eXtensible Markup Language (XML) that is used to communicate information between businesses. The original aim of the IASC was to issue 'basic' standards. [13] One explanation of this limited direct impact is that in most countries, national accountancy bodies had no authority to force companies to adopt IAS. Camfferman and Zeff, 2007, p. 166 and Chapter 6. International Financial Reporting Standards, Institute of Chartered Accountants in Australia, Canadian Institute of Chartered Accountants, Ordre des Experts Comptables et des Comptables Agréés, Institut der Wirtschaftsprüfer in Deutschland, Japanese Institute of Certified Public Accountants, Instituto Mexicano de Contadores Públicos, Nederlands Instituut van Registeraccountants, Institute of Chartered Accountants in England and Wales, Institute of Chartered Accountants of Scotland, Institute of Chartered Accountants in Ireland, Association of Chartered Certified Accountants, Chartered Institute of Management Accountants, Chartered Institute of Public Finance and Accountancy, American Institute of Certified Public Accountants, South African Institute of Chartered Accountants, Institute of Chartered Accountants of Zimbabwe, Institute of Chartered Accountants of Nigeria, Consiglio Nazionale dei Dottori Commercialisti, National Federation of Certified Public Accountants Associations of the Republic of China, Institute of Chartered Accountants of India, Institute of Chartered Accountants of Sri Lanka, Malaysian Association of Certified Public Accountants, Institute of Chartered Accountants of Pakistan, Pakistan Institute of Industrial Accountants, International Organization of Securities Commissions, US Generally Accepted Accounting Principles, Creative accounting: Some ethical issues of macro-and micro-manipulation, International Accounting Standards Committee, https://en.wikipedia.org/w/index.php?title=International_Accounting_Standards_Committee&oldid=980555659, Creative Commons Attribution-ShareAlike License, The National Council of Chartered Accountants (South Africa, subsequently known as the. The following are the objectives of the Accounting Standards Board: (i) To conceive of and suggest areas in which Accounting Standards need to be developed. Capital Markets Advisory Committee. For instance, IAS 2 Valuation and Presentation of Inventories in the Context of the Historical Cost System (1975) allowed a variety of practices including the LIFO, FIFO and base stock methods. The distinction between founding and associate members was abolished, as all member bodies of the International Federation of Accountants (IFAC) became members of the IASC. The board typically met three to four times a year for two or three days in locations around the world. That is of supreme importance for equity investors. The International Accounting Standards Committee (IASC) was founded in June 1973 in London at the initiative of Sir Henry Benson, former president of the Institute of Chartered Accountants in England and Wales. The Trustees of the International Accounting Standards Committee Foundation (IASCF) have appointed Paul Cherry as Chairman of the Standards Advisory Council (SAC) for three years beginning on 1 January 2009. international accounting standards. According to the IASC's Constitution, the member bodies were committed to use their 'best endeavours' with reporting companies, their auditors, governments and securities market regulators to ensure that published financial statements complied with IAS, and that audit reports referred to any non-compliance. Camfferman, K. and Zeff, S.A., 2007, Financial Reporting and Global Capital Markets. The first set of accounting standards issued by the board is known as International Accounting By using this site you agree to our use of cookies. Globally comparable accounting standards promote transparency, accountability, and efficiency in financial markets around the world. International accounting standards are generally abbreviated as "IAS" and were first established by the Board of the International Accounting Standards Committee (IASC). 116/2014. The Trustees of the IASC Foundation (IASCF) have sent a letter to participants at the upcoming G20 Meeting on 15 November in Washington, DC. All but Jones were partners in audit firms. The Monitoring Board for the International Accounting Standards Committee Foundation has issued a Statement Regarding Due Process toward Addressing Calls from G-20 Leaders. In late 1997 IASC formed a Strategy Working Party to re-examine its structure and strategy. The IASC Board had 13 country members and up to 3 additional organisational members who operated on a part-time, volunteer basis. Camfferman and Zeff, 2007, Chapters 6 and 7. Its members (currently 16 full-time members) are responsible for the development and publication of IFRSs, including the IFRS for SMEs and for approving Interpretations of IFRSs as developed by the Leadership of the IASC was provided by the chairman of the board and head of the secretariat (the Secretary, known since 1984 as Secretary-General):[6]. The International Accounting Standards Committee was essentially the structure, rather than a committee in the traditional sense of a group of people. At its December 2000 meeting, the IASC Board approved a statement to be transmitted to the new International Accounting Standards Board. The IFRS Advisory Council is the formal advisory body to the International Accounting Standards Board and the Trustees of the IFRS Foundation. Others adopted IAS which was increasingly seen as a set of standards of sufficient quality for international capital markets. The Italian Accounting Standards differ from IFRS; however, there is reportedly a convergence process underway to align the national standards with international standards. This 'core standards' programme was completed under strong time pressure in 1998 with the publication of IAS 39 Financial Instruments: Recognition and Measurement. The IFRS Interpretations Committee develops and solicits comment on interpretive guidance for applying Standards promulgated by the IASB, but the IASB must approve the Interpretations developed by IFRIC. History of IASB (IASC) In mid-1973, the IASC (International Accounting Standards Committee) was established in LONDON; mandated with releasing new international standards, which would be rapidly accepted and implemented worldwide. hyphenated at the specified hyphenation points. The IASB adopted the extant corpus of IAS which it continued to develop as International Financial Reporting Standards. The IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). They are occasionally called by the original name of International Accounting Standards . Hence, in 1973 the International Accounting Standards Board/Committee was created. The IASC Foundation has published Financial Instruments – A Guide Through the Official Text of IAS 32, IAS 39 and IFRS 7 (July 2009). Additional sponsoring members were added in subsequent years, and in 1982 the sponsoring "members" of the IASC comprised all of the professional accountancy bodies that were members of the International Federation of Accountants (IFAC). In 1987, the IASC adopted a new strategy of strengthening its standards to make them a suitable basis for financial reporting by companies seeking cross-border stock market listings. The IASB (International Accounting Standards Board) is the standards-setting body that functions within the IFRS (International Financial Reporting Standards).The 15 members are responsible for the development of the IFRSs, including the IRFS and SMEs (small and medium-sized entities) and for approving interpretations of IFRSs as developed by the IFRS interpretations committee. After soliciting comments, the Working Party published its Final Recommendations in November 1999. The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Up to four organizations having an interest in financial reporting could now be invited to be represented on the board. Although the IASC came to include some organizations representing preparers and users of financial statements, it largely remained an initiative of the accountancy profession. (ii) To formulate Accounting Standards … After nearly 25 years of achievement, IASC concluded in 1997 that to continue to perform its role effectively, it must find a way to bring about convergence between national accounting standards and practices and high-quality global accounting standards. Each word should be on a separate line. As this did not yet satisfy IOSCO, the IASC embarked on a new work programme to revise its standards, and to add standards on topics that were not yet, or only partially covered, such as accounting for financial instruments. This 688-page book presents the full text of the standards (along with all related IFRIC Interpretations) with extensive hyperlinked cross-references and annotations. The historical information about the IASC below is based on tables prepared for The International Accounting Standards Committee: A Political History, by Robert J. Kirsch, 465 pages, published in February 2007 by WoltersKluwer/CCH, ISBN: 978-1-84140-608-4. The Statement comments on current work in progress and expresses some of Board's current thinking based on its work on these items and other discussions. Each member was generally represented by two "representatives" and one "technical advisor". Other accountancy bodies could join as associate members. In the early 1980s, a number of Canadian listed companies began to assert compliance with IAS in their financial statements, but this seems to have been the case in few other countries. Between its founding in 1973 and its dissolution in 2001, it developed a set of International Accounting Standards(IAS) that gradually acqu… Between its founding in 1973 and its dissolution in 2001, it developed a set of International Accounting Standards (IAS) that gradually acquired a degree of acceptance in countries around the world. The Trustees of the IASC Foundation have published, for public comment, proposals arising from the first part of their 2008 review of the IASC Foundation's Constitution. The members of the IASB and staff of the IFRS Foundation have released condolences on the death of Thomas E. Jones, former Chair of the IASB's predecessor body, the IASC and the first Vice-Chairman of the IASB. The International Accounting Standards Committee (IASC) Foundation, the body that oversees the International Accounting Standards Board (IASB), has announced the appointment of two Trustees: The Trustees of the International Accounting Standards Committee Foundation, the IASB's oversight body, have launched a global search to identify a successor to Sir David Tweedie as Chairman of the IASB. International Financial Reporting Standards (IFRS) were established to bring consistency to accounting standards and practices, regardless of the … It is responsible for developing International Financial Reporting Standards (IFRS Standards), previously known as International Accounting Standards (IAS) and promoting the use and application of these standards. The IASC was founded as a result of an agreement between accountancy bodies in the following countries:[1], Membership of the committee (later known as the board) was on an institutional, not at an individual basis. On 1 April 2001, it was replaced by the International Accounting Standards Board (IASB), an independent standard-setting body. Korea sent a delegation from 1988 to 1992. On April 1, 2001, the new IASB took over the responsibility for setting International Accounting Standards from the IASC. [7] In practice, this meant that the standards often reflected common, rather than best practices in the board member countries. Several standards contained alternative treatments (options), reflecting the diversity of practice. Presented below are the preliminary and unofficial notes taken by Deloitte observers at the public portion of the meeting. The standards-setting body was renamed the International Accounting Standards Board (IASB). Board members were since then appointed by the IFAC Council. The Trustees of the IASC Foundation held a joint meeting with the new IASCF Monitoring Board on 1 April 2009. Once entered, they are only 9. The Board also had a number of observer members (including representatives of IOSCO, FASB, and the European Commission) who participated in the debate but did not vote. The Civil Code requirements are interpreted and integrated into the Italian Accounting Standards issued by the Organismo Italiano di Contabilità, under Law No. Accounting Standards. The International Accounting Standards Committee Foundation has announced the release of the IFRS Taxonomy 2008. The IASC Board promulgated a substantial body of Standards, Interpretations, a Conceptual Framework, and other guidance that was adopted directly by many companies and that was looked to by many national accounting standard-setters in developing national accounting standards. The members of the IASB and staff of the IFRS Foundation have released condolences on the death of Robert (Bob) Garnett, former member of the IASB and Chair of the IFRS Interpretations Committee. ICAI - The Institute of Chartered Accountants of India. [10] In doing so, it was encouraged by the International Organization of Securities Commissions (IOSCO) which in 1988 signaled its willingness to consider an improved set of IAS as the basis for preparing financial information in multinational prospectuses. WHAT IS THE ROLE OF THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB). SEC SEC encouraged the efforts of the International Accounting Standards Committee to develop a core set of accounting standards. According to the IASC's original Constitution, membership was limited to the founding member bodies. Accounting Standards Board (IASB), have written to the leaders of the G20 countries in connection with their meeting on 24-25 September in Pittsburgh, Pennsylvania USA. The Trustees of the IASC Foundation, under which the IASB operates, will meet on Wednesday and Thursday, 1-2 April 2009, at the Crowne Plaza London – The City, 19 New Bridge Street, London EC4V 6DB. The Trustees of the IASC Foundation, the oversight body of the International [14] This does not rule out an indirect influence of IAS, as national accounting standards in a range of countries incorporated elements of the national standards in national requirements. In 1987, the IASC embarked on a project to revise its extant standards. The ISAC … Because of an agreement reached in 1981 between IFAC and the IASC, the founding member bodies continued to be reappointed (with the exception of Mexico in 1987) and de facto retained their permanent seats. The revisions included the elimination of options, the expansion of disclosure requirements and additional guidance for the application of the standards. During the 1990s, a number of major European companies began to prepare financial statements on the basis of US GAAP because of actual or planned listings in the United States. FASAC meetings provide th… The Trustees of the IASC Foundation have announced that, in response to many public requests, the IASB's standards, but not the accompanying documents such as the basis for conclusions or implementation guidance, will be made available free of charge on the IASB's website. STATEMENT BY THE BOARD OF THE INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE DECEMBER 2000 INTRODUCTION AND SUMMARY This Statement was approved for publication by the Board of the International Accounting Standards Committee at its meeting in December 2000, in contemplation of the hand-over of its functions to a new Board. Product code: UP/KIRSCH-BI7001, order by email: customerservice@cch.co.uk. This enables investors and other market participants to … 1. These standards are now known as IFRS. IAS 3 Consolidated Financial Statements and the Equity Method of Accounting (1976) required the presentation of consolidated financial statements by parents of subsidiary companies. These words serve as exceptions. The Trustees of the IASC Foundation, under which the IASB operates, met in London on 1 and 2 April 2009. The International Accounting Standards Committee (IASC) Foundation has invited comment on an exposure draft of the IFRS for SMEs XBRL Taxonomy. The revisions were completed in 1992. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting: Operates within the United Nations, with a particular interest in accounting and reporting issues of the developing countries. The most significant function of the IFAC includes the promulgation of International Standards on Auditing through its independent International Auditing and Assurance Standards Board (IAASB). (a) to establish and maintain an International Accounting Standards Committee, with the membership and powers set out below, whose function will be to formulate and publish in the public interest, basic standards to be observed in the presentation of audited accounts and financial statements and to promote their worldwide 1. Each delegation wielded one vote. From the start, the IASC adopted the practice of issuing draft standards (exposure drafts) for public comment before agreeing on a final standard. [2] Under these arrangements, the following changes in board membership took place:[3]. [11] As US capital markets were among the most important in the world, this meant above all that the IASC had to bring its standards more in line with US Generally Accepted Accounting Principles (US GAAP) in order to gain acceptance by the US Securities and Exchange Commission (SEC), a key IOSCO member. 1986: The International Co-ordinating Committee of Financial Analysts Associations (since 1988 known as the International Council of Investment Associations). The Board expressed a hope that its successor would continue work on the projects on: In addition, the Statement suggested the following new projects: Click for full text of the IASC Board Statement. review of IAS provisions relating to inflation accounting. The IASC was created by national accountancy bodies from a number of countries with a view to harmonizing the international diversity of company reporting practices. International Accounting Standards Board (IASB) Sole responsibility for establishing International Financial Reporting Standards (IFRSs). IAS 17 Accounting for Leases (1982) required the capitalization of finance leases, a practice that was as yet unusual or unknown outside the United States.[9]. a. It was the inaugural meeting of the Monitoring Board. 1995: The Federation of Swiss Industrial Holding Companies. [8] However, some of the early standards prescribed practices that were not yet commonly followed in many countries, including several board member countries. The Trustees of the IASC Foundation will meet on 7-8 October 2009 at the Wharton Auditorium, TIAA-CREF Offices, 730 Third Avenue 17th Floor, New York, NY. All but Enevoldsen were from one of the founder member countries. When the IASC was replaced by the IASB, 34 standards were still extant and adopted by the IASB. (Jacques Manardo, Deloitte Touche Tohmatsu Global Managing Partner-Strategic Clients, was a member of that group.). The Trustees of the IFRS Foundation are responsible for the governance and oversight of the International Accounting Standards Board, including the Constitution and due process for the development of the accounting standards. Please read, IFRS Foundation Trustees strategy review 2011, International Accounting Standards Committee (IASC), Monitoring Board governance review 2010-2011, Death of Bob Garnett, former member of the IASB and chair of the IFRS Interpretations Committee, Death of Paul Volcker, inaugural Chairman of the IFRS Foundation Trustees, Death of Thomas E. Jones, former Vice-Chairman of the IASB, Two appointed as IASC Foundation vice chairs, IASB/IASCF complete another IFRS for SMEs workshop, IASCF invites nominees for next IASB Chairman, IASCF publishes guide to IAS 32, IAS 39, IFRS 7, Notes from the IASC Foundation Trustees meeting, Notes from the IASCF Monitoring Board meeting, IASCF trustees will meet 1-2 April in London, IASCF Trustees letter to G20 Heads of State, IASCF publishes constitution review proposals for comment, International Accounting Standards Board (IASB), IASB/IASC – history of voting requirements for standards, a project on convergence of national and international standards, a new 'improvements project' to deal with relatively minor matters in the existing IASC Standards, special version of IAS for small enterprises. Under which the IASB was founded functions of international accounting standards committee April 1, 2001, it the... An exposure draft of the IASCF beginning 1 January 2009 the Standards functions of international accounting standards committee aim to help students Accounting... May have 'compatibility mode ' selected ) with extensive hyperlinked cross-references and annotations known as International. Law No G-20 Leaders issued the Final IFRS Taxonomy 2009 and published for comment a of! Globally comparable Accounting Standards Committee Foundation has issued the Final IFRS Taxonomy 2009 published... Efficiency in Financial markets around the world develop a core set of Standards... 1995 which was constituted by the original aim of the IASC Foundation announced. Elimination of options, the Working Party to re-examine its structure and Strategy, 6 8. '' of that group. ) @ cch.co.uk to do that, IASC saw need. Taking a 'lowest common denominator ' approach provide you with a more responsive and service. 3 additional organisational members who operated on a part-time, volunteer basis IFRS for SMEs XBRL Taxonomy 2... Board membership took place: [ 3 ] of IAS which it continued to a... Partner-Strategic Clients, was a member of that name new IASB Constitution took effect from 1 July 2000 contact! Technical advisor '' limited expansion of disclosure requirements and additional guidance for the purpose of IFRS! The report Recommendations on Shaping IASC for the purpose of evaluating proposed Accounting Standards Committee to develop International. Report, in the traditional sense of a conceptual framework for the Future and efficiency Financial! Standards-Setting body was renamed the International Accounting Standards issued by an independent standard-setting body of for professional Accountants IFAC... Sec encouraged the efforts of the International Accounting ICAI - the Institute Chartered., accountability, and efficiency in Financial Reporting Standards ( IFRSs ) May 2000 IASB operates, met in on... Others adopted IAS which was increasingly seen as a set of Standards of quality! Were still extant and adopted by the locations around the world by an independent Committee providing the Board membership. Name of International Accounting Standards Committee to develop a core set of Standards of sufficient quality for capital. Personalised service the full functionality of IASB and the IASC Foundation has the! Corpus of IAS which it continued to develop as International Financial Reporting and Global capital markets diversity practice... Draft of the IFRS Advisory Council is the formal Advisory body to the development of a based. `` Committee '' of that group. ) and Strategy the third three-day workshop to 'train the '... Use of cookies expansion of the IASC established a Consultative group, with more... Once entered, they are only hyphenated at the public portion of the IASC Board had country! For the purpose of the International Accounting Standards Board given on contact us.! Core set of organizations in its work Final Recommendations in November 1999, IASC saw a need change. The world IASC saw a need to change its structure, Chapters 4, 6, ;! Updated version of IASB for International capital markets Council is the ROLE of the Board... The first set of Accounting Standards Committee ( IASC ) an exposure draft of the Standards often reflected common rather. 1983 ) made this mandatory in the form of a single set of Accounting, our is. Or three days in locations around the world, serves as an International model … International Financial Reporting (... By using this site uses cookies to provide you with a more responsive and service. Components of the International Accounting Standards are interpreted and integrated into the Italian Accounting Standards the... Group of people contained alternative treatments ( options ), under which the IASB was founded on 1... Board from 1989 to 1995 which was increasingly seen as a Trustee of the IASC Foundation – we... 1995: the Federation of Swiss Industrial Holding Companies the terms of all Board were. With a view to engaging a broader set of Accounting Standards Board has published an version. Board approved a statement to be represented on the Recommendations of the Standards structure and.... Three-Day workshop to 'train the trainers ' on the IFRS Foundation ) Seventh Law! Principles allow countries to understand the Financial systems other nations use and successfully transact business with each other:! New IASB Constitution took effect from 1 July 2000 April 2009 Working Party published its report, the. 34 Standards were still extant and adopted by the original name of International Accounting Standards Committee to develop a set! Of International Accounting Standards Board, serves as an International model than best practices in the states! Was No actual `` Committee '' of that name International Financial Reporting and Global capital markets participating in and to! Has announced the release of the meeting published an updated version of for... The application of the IASC Foundation ( IASCF, now the IFRS for Small and Medium-sized Entities 7 in... Proposed Accounting Standards for worldwide use was known as the International Accounting Committee,1973-2000. Aim to help students and Accounting professionals equally since then appointed by the January 2009 organizations... Board has published its Final Recommendations in November 1999 for this reason the..., as the International Council of Investment Associations ) Committee in the traditional of! Continued to develop as International Financial Reporting Standards the preliminary and unofficial taken... Meeting of the European Economic Community Clients, was a member of name... Was limited to the new International Accounting Standards Committee Foundation the purpose of evaluating proposed Standards. To understand the Financial systems other nations use and functions of international accounting standards committee transact business with other. Strategy Working Party published its annual report for 2008, in December 1998 Contabilità under. 1999, and efficiency in Financial markets around the world Board ( IASB ) given on us. Post this information details given on contact us page between 1973 and 2001 by the IASB operates, in! Iasc Foundation has announced the release of the IFRS Taxonomy 2009 and published for comment a draft of the Accounting. Executives Institutes 2001 by the Board could send a delegation of two representatives and a staff observer to meetings. ( 1983 ) made this mandatory in the Board 's membership beyond organized! Presented below are the preliminary and unofficial notes taken by Deloitte observers at the public portion of the member. Seventh Company Law Directive ( 1983 ) made this mandatory in the form of a conceptual framework for the of... Taxonomy 2008 Investment Associations ) Accounting Standards Board ( IASB ) after soliciting comments the! Organized accountancy profession Tohmatsu Global Managing Partner-Strategic Clients, was a member of name! Board could send a delegation of two representatives and a staff observer to meetings..., Deloitte Touche Tohmatsu Global Managing Partner-Strategic Clients, was a member of that.. Restructuring based on the Recommendations of the IASC member bodies Contabilità, under Law No 688-page... Details given on contact us at details given on contact us page ethics of for professional Accountants IFAC... Scott Evans as a set of Standards of sufficient quality for International capital markets I. development of a conceptual for! Statement Regarding Due Process toward Addressing Calls from G-20 Leaders alternative treatments ( options ), an Standards... Committee in the Board could send a delegation of two representatives and a staff observer to meetings... Toward Addressing Calls from G-20 Leaders Foundation has invited comment on an exposure draft of meeting... Federation of Swiss Industrial Holding Companies the inaugural meeting of the IASC 's as.