- Title Pages
- Foreword
- Preface
- List of Figures
- List of Tables
- List of Abbreviations
- The International Accounting Standards Board until 2011: A Basic Chronology
- 1 Introduction
- 2 Evolution of the IASC into the IASB
- 3 Setting Up the IASB
- 4 The First Wave of Jurisdictional Adoptions of IFRSs
- 5 The IASB Sets its Agenda
- 6 Financial Instruments
- 7 The IASC Foundation’s First Constitution Review
- 8 The United States Begins to Warm to the IASB
- 9 The IASB’s Vexed Relation with Europe
- 10 Adopt or Adapt
- 11 The IASB’s Organization Matures
- 12 Concepts and Convergence
- 13 The IASB Survives the Financial Crisis
- 14 Preparing the IASB for the Second Decade
- 15 The Uncertain Path Towards a Single Global Standard
- 16 The IASB and the FASB Rush to Complete the Convergence Programme
- 17 Epilogue
- Appendix 1 Trustees, Members of the Board, the Advisory Council, and the Interpretations Committee
- Appendix 2 Standards and Interpretations
- Appendix 3 IASC–IFRS Foundation Summary Financial Data 2001–11
- Appendix 4 List of Interviewees
- Appendix 5 Sources and Referencing
- Index
Evolution of the IASC into the IASB
Evolution of the IASC into the IASB
- Chapter:
- (p.8) 2 Evolution of the IASC into the IASB
- Source:
- Aiming for Global Accounting Standards
- Author(s):
Kees Camfferman
Stephen A. Zeff
- Publisher:
- Oxford University Press
This chapter summarizes the history of the IASC from 1973 to 2000. Created at the initiative of accountancy bodies from several countries, the IASC achieved a modest acceptance of its basic accounting standards. After 1987, the IASC pursued acceptance of its standards for the purpose of cross-border securities listings. To this end, the IASC strengthened its standards in consultation with the International Organization of Securities Commissions (IOSCO). Although IOSCO endorsed the IASC’s standards in 2000, the main objective of acceptance of the standards by the US Securities and Exchange Commission (SEC) remained elusive. With strong encouragement of SEC, a restructuring of the IASC into an independent standard setter was agreed in 1999.
Keywords: IASB, IASC, IFRS, IOSCO, Securities and Exchange Commission, accountancy profession, cross-border listings
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- Title Pages
- Foreword
- Preface
- List of Figures
- List of Tables
- List of Abbreviations
- The International Accounting Standards Board until 2011: A Basic Chronology
- 1 Introduction
- 2 Evolution of the IASC into the IASB
- 3 Setting Up the IASB
- 4 The First Wave of Jurisdictional Adoptions of IFRSs
- 5 The IASB Sets its Agenda
- 6 Financial Instruments
- 7 The IASC Foundation’s First Constitution Review
- 8 The United States Begins to Warm to the IASB
- 9 The IASB’s Vexed Relation with Europe
- 10 Adopt or Adapt
- 11 The IASB’s Organization Matures
- 12 Concepts and Convergence
- 13 The IASB Survives the Financial Crisis
- 14 Preparing the IASB for the Second Decade
- 15 The Uncertain Path Towards a Single Global Standard
- 16 The IASB and the FASB Rush to Complete the Convergence Programme
- 17 Epilogue
- Appendix 1 Trustees, Members of the Board, the Advisory Council, and the Interpretations Committee
- Appendix 2 Standards and Interpretations
- Appendix 3 IASC–IFRS Foundation Summary Financial Data 2001–11
- Appendix 4 List of Interviewees
- Appendix 5 Sources and Referencing
- Index
