Cooperation Between FASB and IASB to Achieve Convergence of Accounting Standards (The Financial Accounting Standards Board, The International Accounting Standards Board‪)‬

The International Accounting Standards Board has a mandate to produce a single set of high quality, understandable, and enforceable global accounting standards and to encourage convergence on these standards. To achieve its goals, the Board works closely with national standard setters around the world. The Financial Accounting Standards Board in the US. is one of its most important partners. Introduction