International Activities

The AcSB received reports on recent meetings of the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) (see www.iasb.org.uk and www.fasb.org, respectively). In particular, the AcSB noted the issue:

by the IASB of Exposure Drafts on Operating Segments and on Share-based Payment — Vesting Conditions and Cancellations; and by the FASB of an Exposure Draft on the Fair Value Option for Financial Assets and Financial Liabilities. Strategic Planning

The AcSB authorized staff to seek expressions of interest from individuals knowledgeable in International Financial Reporting Standards to participate in an informal advisory group to assist the AcSB and its staff in aspects of adopting its public company strategy.