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IASB Proposes Tougher Consolidation Standard

January 6, 2009

On December 18, 2008, The International Accounting Standards Board (IASB) published a proposal that would strengthen the requirements for identifying the entities a company controls

This new consolidations proposal is part of an effort by the IASB the review off-balance sheet activities. The proposal is aimed at addressing an area of concern raised in the G20 leaders meeting that occurred on November 15, 2008. Further proposals on off balance sheet transactions are expected to be published in the first quarter including proposal(s) that address derecognition of assets and liabilities.

Comments on the proposal must be submitted by March 20, 2009. For more information on making comments see

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