International Accounting Standards Board
(IASB) chairman Hans Hoogervorst has outlined the IASB’s four
main work priorities.

Speaking at a conference in Beijing,
Hoogervorst said the IASB’s first priority is to complete the
remaining convergence projects with the US standard-setter to the
highest possible standard, and must be done in a way which benefits
from the input received by the global financial reporting

Second, Hoogervorst said the IASB will
complete its post-convergence agenda as per its public consultation
document to set out ideas issued this week.

Third, the IASB aims to complete the
G20-endorsed transition towards global financial reporting
standards and Hoogervorst reiterated how important it is to have US

Lastly he said the IASB will continue to
strengthen its institutional relationships in a way that respects
and enhances the independence of the standard-setting process.

Hoogervorst also promised that Chinese
interests would be carefully considered in IASB debates, and that
China would be given the credit it deserves for its commitment to

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“In return, we need China to speak up on
international accounting matters, in the same way it does on other
areas of global economic cooperation and financial regulatory
reform,” Hoogervorst said.

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