At the FASB’s behest, the International Valuation Standards Committee (IVSC) is to be a member of the Board’s new Valuation Resource Group. (For more on the Group’s formation, see BVWire #57-4.) So far, the IVSC is the only non-U.S. organization on the FASB group, and will be represented by Chris Thorne, the current Vice Chair of the IVSC Standards Board. “As the main focus will be valuation issues arising under the U.S. standards, it is natural that the group is made up of American practitioners, Thorne says. However, FASB is keen for the group to have input from an international perspective to avoid convergence problems suffered in recent years by FASB and IASB in bringing their respective accounting standards together.” To learn more, go to the IVSC website and look for the IVSC E-News, Issue 17.
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