WASHINGTON--A panel of accounting experts at a meeting of state legislators agreed that the United States should be part of uniform world accounting standards but diverged on what they should include.
Their comments came during an international accounting session at the spring meeting of the National Conference of Insurance Legislators, here.
At issue are the pros and cons of proposed fair value insurance accounting standards being weighed by the International Accounting Standards Board (IASB), London, which could be taken up by the Financial Accounting Standards Board (FASB), Norwalk, Conn., as it weighs a joint convergence effort with the IASB.
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