Financial Executives International  responds to the recent  joint announcement by the Financial Accounting Standards Board and International Accounting Standards Board on the timetable for completion of the Memorandum of Understanding projects.

FEI applauds the boards’ joint decision to allow more time to complete these projects. The standards that will result from these MoU projects share a common set of characteristics: they are complex, will have a pervasive effect requiring changes to be made by nearly all reporting companies and the proposals seek fundamental changes that will have a profound and long-lasting impact on both accounting and business practices.