NEWYORK-- The trustees of the International Accounting Standards Committee (IASC) held the board meeting on April 2, 2007 for a two-day period in London. At the meeting, the trustees reviewed the progress of the IASB’s work, and met representatives of stakeholders to discuss the adoption of IFRSs and the challenges facing the IASC and the IASB.

The trustees also reviewed the progress of the IASB’s work with the US Financial Accounting Standards Board on convergence of IFRSs and US standards.

The trustees agreed to the following measures:
• Focused interaction between the trustees and the IASB
• Introduction of feedback statements
• A framework for cost-benefit analyses
• Publication of proposed 2008 budget
• Approval of the 2006 accounts

IASC is an independent body that oversees the International Accounting Standards Board (IASB).

For more information please visit the following website: www.iasb.org