(24, July, 2006) The International Accounting Standards Board (IASB) announced a number of steps taken as a result of its ongoing review of its work program and of market practices. When IASB considered its technical plan at its meeting in June, it affirmed its commitment to the joint work program described in the Memorandum of Understanding (MOU) with the U.S. Financial Accounting Standards Board (FASB) published in February 2006. At the same time, IASB concluded that by addressing issues related to the timing of effective dates and consultation, it would continue both to encourage consistent and rigorous application of IFRSs and to facilitate broad input into IASB’s work program.