AICPA Commends FAF for Funding IASB
(Targeted News Service Via Acquire Media NewsEdge) NEW YORK, Jan. 28 -- The American Institute of Certified Public Accountants issued the following news release:
The American Institute of CPAs (AICPA) issued the following statement by President and CEO Barry C. Melancon, CPA, CGMA, in response to the Financial Accounting Foundation's announcement that it will provide funding to the International Financial Reporting Standards Foundation to support the completion of international convergence projects:
"The Financial Accounting Foundation's (FAF) decision to make a contribution to the International Accounting Standards Board (IASB) to complete the four joint projects is an important step in further advancing the convergence work of IASB and FASB. We commend FAF for doing so. We hope it serves as a catalyst for a broader discussion by all parties in the financial reporting process on how IFRS should evolve in the United States."
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