IASB and FASB announce membership of FCAG

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) announced the membership of the Financial Crisis Advisory Group (FCAG).

The FCAG is the high-level advisory group set up by the boards to consider financial reporting issues arising from the global financial crisis. The group includes recognised leaders from the fields of business and government with a broad range of experience in international financial markets. As previously announced, the FCAG will be jointly chaired by Harvey Goldschmid, former Commissioner, US Securities and Exchange Commission (US SEC), and Hans Hoogervorst, Chairman, AFM (the Netherlands Authority for the Financial Markets).
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Read more at :
http://www.iasb.org/News/Press+Releases/IASB+and+FASB+announce+membership+of+Financial+Crisis+Advisory+Group.htm
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Overview of the Financial Crisis Advisory Group

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have a long-standing commitment to work together in an internationally coordinated manner on improving financial reporting standards. As part of that commitment, accounting issues emerging from the global crisis will be considered by both boards. The boards have established this advisory group comprising senior leaders with broad international experience of financial markets to assist in that important process.
The primary function of the advisory group is to advise the boards about standard-setting implications of (1) the global financial crisis and (2) potential changes to the global regulatory environment. The group will conclude its activities within approximately six months (or less) and will conduct advisory meetings during that time.
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For more information about the FASB, visit www.fasb.org