More than 150 standard-setters from 70 jurisdictions across the globe have gathered in London this week to discuss collaboration in accounting standard-setting and updates on the International Accounting Standards Board’s (Board) current projects.
In his opening address, Chair of the Board Hans Hoogervorst said:
Against the backdrop of increased geopolitical friction, where the recent G7 meeting couldn’t even agree on a common statement, our standard-setting community provides an excellent example of what can be achieved when people from all parts of the world work together towards a common goal.
He called on the standard-setters to ready themselves to contribute with comments to important upcoming consultations from the Board.
This year’s conference will cover topics such as the upcoming major consultations on Primary Financial Statements, Goodwill and Impairment and Rate-Regulated Activities, the review of the IFRS for SMEs Standard, and electronic reporting and the importance of IFRS Taxonomy.