Friends reunited

The FASB and IASB recently came together in London for an educational meeting in which they updated each other on their work and shared their thoughts on the challenges they are facing. The agenda for the day comprised topics of mutual interest arising from recent and current projects. In each case, staff from the two boards presented papers summarising the work that had been done, the current state of play of each project and the challenges involved following which Board members exchanged ideas. This article covers two of the topics. The remaining topics will be covered in the next issue of WAR.