Slowing the pace of change

In response to concerns by various constituents, the IASB is considering several measures aimed at slowing down the pace of change. First, it will look at introducing a longer lead time regarding the effective date of new IFRS standards. The proposal is to have an effective date one year after the date of publication. Second, it will try not to make major new standards effective until 2009. Third, it will consider issuing a discussion paper on fair value measurement, instead of going directly to an exposure draft. Details are available in a July 24, 2006 press release and on the IASB website.