On 17 October, the Chairman of EFRAG, plus the Chairmen of the ASB and the French and German standard-setters, met with representatives of the IASB. This was the second meeting under an arrangement between EFRAG and the IASB for EFRAG to be consulted before each joint meeting of the IASB and the US FASB.

Discussions at the meeting centred around progress on a number of joint IASB/FASB projects, in particular:

• The equity/liability classification;

• Financial statement presentation;

• Business combinations; and

• Conceptual framework.

An updated status report on the endorsement of IFRS in the EU is available on the EFRAG website at www.efrag.org.