Hoogervorst hints at accounting slowdown
Monday 23 January 2012 - by Andrew.Hickley@gfsnews.com
In a speech in Moscow, Hoogervorst said that the majority of respondents to a recent agenda consultation had called for the IASB to enter a period of quiet.
The Dutchman added that the IASB will take a "serious look" at completing its conceptual framework, which lays down the philosophical and methodological underpinning of its work.
He claimed "everyone" is asking the IASB to complete work in this area.
Additional areas where improvement has been urged include performance reporting and other comprehensive income, he said, though views of how it should go about these changes have been mixed.
He continued: "Our future agenda consultation recognises that many new jurisdictions such as Russia have their own legitimate requests - including foreign currency translation, business combinations under common control, agriculture and many more.
"We will have to make a judicious choice here, being mindful that we do not overload our agenda."
The IASB is looking to provide a formal feedback statement on its future programme during the second quarter of 2012, according to a timeline on its website.
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