On April 23, 2012 the International Accounting Standards Board posted the following information regarding the status of convergence projects with FASB:
A joint IASB/FASB progress report describing [IASB-FASB convergence] activities has now been issued via the Financial Stability Board, and is available to download by clicking here [external website].
For more information about convergence between IFRS and U.S. GAAP, please click here.
On April 20, at the close of the G20 Finance Ministers and Central Bank Governors meeting held at the International Monetary Fund (IMF) in Washington, D.C., there was mention of the importance of the FASB and IASB meeting their planned mid-2013 deadline for convergence. See the final communiqué of the G20 Finance Ministers, as noted in the FEI blog.
Additional IASB News
Other significant recent developments at IASB are linked below: