IASB and FASB consult on effective dates for convergence accounting standards

The IASB and the US Financial Accounting Standards Board (FASB) have today published documents seeking views on when new financial reporting standards resulting primarily from their work to improve and achieve convergence of IFRSs and US GAAP should become effective.
The projects covered by the request for views include the second and third phases of Financial Instruments, Revenue from contracts with customers, Insurance contracts and Leases. Comments are requested by 31 January 2011.

The document is available on the IASB website.

Please find the press release herewith attached.