Both the U.S. and international bodies of regulators that oversee accounting are working on improvements on the accounting framework with the goal of providing greater transparency and more relevant information about an institution’s financial position and performance.

Update: The IASB recently released an exposure draft detailing its proposed changes and the FASB is expected to follow with their own recommendations later in August. Below are the items that relate to FASB/IASB:

Featured Documents

> Council Response to FASB Financial Instruments Exposure Draft

> Council, Coalition Respond to FASB's Proposed Revisions to FAS 5

> Coalition Comments on FASB’s Financial Instruments Exposure Draft

>  Financial Instruments, Derivatives and Hedging Exposure Draft 

> FASB/IASB Convergence Technical Plan

Press Releases

October 1, 2010
CRE Finance Council Submits Comments to FASB on 'Financial Instruments' 

Comment Letters & Testimony                                      

July 8, 2011
CREFC, Coalition Respond to Lease Accounting Proposal 

May 26, 2011
Lease Accounting Coalition Letter to FASB & IASB 

April 1, 2011
Coalition Responds on Impairment Convergence 

March 31, 2011
CREFC Responds on Impairment Convergence 

March 25, 2011
FIRCA Comment Letter on Convergence Timing 

March 11, 2011
FIRCA Comment Letter on Hedge Accounting 

December 13, 2010
Council Responds to FASB’s TDR Exposure Draft 

December 8, 2010
Council, Coalition Responds to FASB on Lease Accounting 

October 21, 2010
Council, Coalition Urge G20 to Extend Lease Accounting Deadline 

 September 30, 2010
Council Response to FASB Financial Instruments Exposure Draft 

 September 16, 2010
Council, Coalition Respond to FASB's Proposed Revisions to FAS 5 

 August 31, 2010
Coalition Comments on FASB’s Financial Instruments Exposure Draft   

Research / Background Documents

August 17, 2010
Lease Accounting – FASB Exposure Draft 

 June 29, 2010
Fair Value Measurements and Disclosures Exposure Draft 

  May 26, 2010 
Financial Instruments, Derivatives and Hedging Exposure Draft  

 FASB/IASB Convergence Technical Plan