IASB Meets with CIS and Baltic States for IFRS Update

On 28 and 29 November 2011, members of the IFRS Foundation and the IASB met with representatives of professional accounting and auditing bodies and ministries from the Commonwealth of Independent States (CIS) and the Baltic States. The meetings updated these countries on current projects, and the direction and future agenda of the IASB. The meeting also provided a forum to discuss the use of IFRSs within these jurisdictions, including the adoption of IFRSs and the IFRS for SMEs, as well as the process for translating the standards.

The event was attended by representatives from the following countries: Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Latvia, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. Many of these countries have already adopted or permit the use of IFRSs and/or IFRS for SMEs.