As part of the ASB's influencing role (see page 1), Chairman Ian Mackintosh chairs a group of NSS from around the world. The group met in Toronto during March. As well as the UK, delegates attended from Australia, Canada, France, Germany, Japan and the USA, as well as EFRAG and the IASB. Representatives of standard-setters from Austria, Mexico, Russia and Spain, also observed the meetings.

The meeting discussed a number of research projects being undertaken around the world. The UK led the debate on a number of items (pensions and leasing). Other substantive discussions covered joint ventures (led by Australia), capital maintenance (led by France), liabilities and equity (led by Germany) and interpretations (led by Canada). For this last discussion, the group was joined by a number of guests representing the securities regulators in Canada, UK and USA, IFRIC, and the interpretive bodies in Canada and the USA.