Is IASB/FASB “Convergence” Just a Charade?

Jim Peterson

Do latest developments suggest a slow death?

The gimlet-eyed Jim Peterson was never fooled.

Why no-one has called the question on this endless charade reflects the two-level fantasy in the dialog: the IASB and the FASB both pretend to believe in the desirability of fully-converged accounting standards, and the community of financial statement issuers and users pretend to believe them.