FASB confirms that improvement of GAAP is its topmost priority
Posted by mostafa on 25 June, 2014
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In the first speech of a FASB member after the IASB Vice-Chairman’s speech warning against ‘turning back the clock’, the FASB has confirmed that while it will continue to work with the IASB to make accounting standards as comparable as possible its topmost priority is ‘to improve and protect the quality of GAAP’.