About This Chapter
Accounting regulations are constantly changing, irrespective of the developments of the convergence projects. The work of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) over the last 10 years has certainly made substantial changes to the standards of both bodies. The FASB, irrespective of the convergence project, is constantly seeking to improve its standards in response to national needs. It continuously monitors practice and the implementation of standards and issues revised or new standards where there are deficiencies.
Sometimes there are new business practices to be regulated, or political and legal decisions made at the national ...
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