IOSCO releases statement in support of the IASB

On February 10 2005, the Technical Committee of the International Organization of Securities Regulators (IOSCO) issued a “Statement on the Development and Use of International Financial Reporting Standards [IFRS] in 2005“.

The statement acknowledges the efforts of the International Accounting Standards Committee (IASC) and its International Accounting Standards Board (IASB), by noting that the IOSCO Technical Committee:

• supports the International Accounting Standards Committee (IASC) Trustees’ ongoing review of their Constitution and their work in developing the International Accounting Standards Board (IASB) as a globally accepted strong, competent and independent standard setter.