Distributing unhappiness evenly

Speaking at the annual AICPA conference in Washington, IASB chairman Hans Hoogervorst gave an update on IFRS to American accountants. He told them of developments in India, China and Japan and said that they moved to IFRS not because they loved the IASB, but because it made their life easier. He pointed to the revenue and leases standards as very significant achievements in convergence.