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IFRS and IOSCO collaborate on accounting rules

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27th Sep 2013
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The IFRS and International Organization of Securities Commissions (IOCSO) have agreed to work more closely to develop global financial reporting standards.
The IFRS and the IOSCO - whose members regulate more than 95% of the world's securities markets - will meet regularly to discuss progress on IFRS and share information.
Michel Prada, Chairman of the IFRS Foundation Trustees said: “IOSCO and the IFRS Foundation have a common interest that global accounting standards be well developed and consistently applied in practice across varying national settings.
Decisions taken by IOSCO back in 2000 led to the creation of the IASB with the objective of global accounting standards. 
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