Incoming FASB chair: Convergence is immediate priority

04/24/2013 | JournalofAccountancy.com

Russell Golden, who will be sworn in on July 1 as chair of the Financial Accounting Standards Board, discussed his vision of the board's priorities in a conference call with reporters last week. Completion of the four memorandum of understanding projects topped the list. Other priorities included the Financial Accounting Standards Advisory Council survey to develop agenda items for the FASB, and continued work on the disclosure framework project. Golden stressed the importance of working with the International Accounting Standards Board as part of the Accounting Standards Advisory Forum to further the goal of convergence.

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