FASB, IASB respond to financial crisis

✍ Scribed by Elaine Henry; Oscar J. Holzmann

• Book ID: 102297992
• Publisher: John Wiley and Sons
• Year: 2009
• Tongue: English
• Weight: 67 KB
• Volume: 20
• Category: Article
• ISSN: 1044-8136
• DOI: 10.1002/jcaf.20487

✦ Synopsis

In the fall of 2008, turbulent financial markets prompted action by both the Financial Accounting Standards Board and the International Accounting Standards Board (IASB). The speed of these actions to change or augment financial reporting standards reflected the urgency of the situation, and provides insights about how the boards function in crises. In this article, we review some of the key actions taken by the boards during that time.