The first meeting of the Financial Crisis Advisory Group, took place yesterday on Tuesday 20th January in London. These proceedings were captured by audio webcast and broadcast live at the time of the meeting, however, they have also now been released as a archived audit web stream file for anyone who was not available to listen to the sessions as they were broadcast.
The meeting's agenda included:
General Overview Session and Issues Briefing:
- - Financial Reporting Issues Overview (Sir David Tweedie and Robert Herz)
- - Briefing on IASB and FASB Joint and Separate Projects (Gavin Francis and Russell Golden)
- - Overview of SEC Report on Mark-to-Market Accounting (James Kroeker)
- - Remarks of Other Observers: Basel Committee of Banking Supervisors (Sylvie Matherat), Committee of European Securities Regulators (Fernando Restoy); International Association of Insurance Supervisors (Monica Mächler); Japan Financial Services Agency (Junichi Maruyama)
After lunch the sessions addressed:
Issues Discussion (led by co-chairs)
Session Objective: To obtain FCAG members' views on the following issues:
- Where did financial reporting help identify issues of concern, or create unnecessary concerns, during the credit crisis?
- Where could financial reporting standards have provided better transparency to help either anticipate the crisis or respond to it more quickly?
Go the the IASB website here to access these files in full and for free