Basel Committee on Banking Supervision and IFRS Foundation co-operation agreement
05 September 2017
The Basel Committee on Banking Supervision (BCBS) and the IFRS Foundation have announced a new cooperation agreement to foster long-term financial stability, enhance market discipline and further develop sharing of information.
The agreement, in the form of a Memorandum of Understanding (MoU), formalises the mutual interaction and strengthens the existing relationship between the BCBS and the IFRS Foundation at the strategic and working level, focusing on the development of IFRS Standards, the interaction between IFRS Standards and the BCBS Framework and the manner in which they are applied in practice by financial institutions across the world.
Further information is available from the IASB web site here.