Project history

Stage 1: Setting the agenda

Work on the initial project commenced in November 2002. At that time the Board reviewed the differences between IAS 20 and US GAAP and decided to undertake the project as part of its short-term convergence project with the FASB.

Stage 2: Project planning/status

The project does not have a working group due to its limited scope. Further, although this is a short term convergence project, it is being conducted by the IASB only.