FASB and IASB convergence under threat?
Convergence between FASB and IASB still on the cards, but looking less likely the longer it is drawn out. With the recent unravelling of aspects of some of the convergence projects (namely the differences on financial asset impairment and revenue interpretations) the chances of convergence are decreasing. Recently the FASB Chariman Leslie Seidman and International Accounting Standards Board Chairman Hans Hoogervorst spoke on the same stage, the difficulties these two individuals are facing is becoming evident. For more information see http://journalofaccountancy.com/News/20126951.htm