The IASB is Getting Serious About Convergence
Trying to get accounting standards to converge is hard work. It’s so difficult, in fact, that the International Accounting Standards Committee is considering changing the name of the International Accounting Standards Board to the IFRS Board.
This critical move will obviously speed up a process that has been going on, seemingly, since Luca Pacioli was in short pants. We’re definitely in favor of putting your agenda out in front but this still seems to be typical accountant passive-aggressive behavior.
Since we’re sure you have much better ideas for the what the IASB’s new name should be, submit your suggestions in the comments. The best we could come up with appears in the tag line.
IASB Could Be Renamed IFRS Board [Web CPA]