FASB-IASB Financial Crisis Advisory Group To Meet Dec. 15

Dec 7th 2009
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The Financial Crisis Advisory Group (FCAG) - a joint advisory group formed by FASB and the IASB in 2008 to advise the two boards on accounting issues relating to the credit crisis (culminating in issuance of the FCAG final report in July, 2009) - will meet in London on December 15 to discuss:

  • the IASB's and FASB's actions in response to the FCAG final report , and
  • other developments in the standard-setting and regulatory environments.

Plans for the December meeting had been announced in July, as noted in the cover letter included in FCAG's final report (printed pg iii, pdf pg 4), signed by co-chairs Harvey Goldschmid (a former SEC Commissioner) and Hans Hoogervorst (Chairman of the Management Board of the Netherlands Authority for the Financial Markets or AFM), as well as in the related press release and letter to the G-20. The specific date of Dec. 15 and meeting location were noted in this announcement released by the boards yesterday.

Further background on FCAG can be found on the FCAG webpage, and in our previous posts on FCAG, including: FASB-IASB Financial Crisis Advisory Group Issues Report (July 28), Pressure on FASB, IASB Could Result in Tragedy, FCAG Members Warn (May 23), FASB-IASB Group Updates, Cautions G-20 (April 30), and FASB-IASB Group Discusses Fair Value, Financial Stability (Feb. 15).

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