IASB says expect few IFRS changes before end-2006

The International Accounting Standards Board has promised that any changes to international financial reporting standards in the next year will be “minor” and “infrequent”. In an address to the Economic and Monetary Affairs Committee of the European Parliament, Sir David Tweedie, chairman of the IASB, said it is committed to a stable platform of standards but that this should not preclude further development.