As part of the ASB's influencing role, Chairman Ian Mackintosh chairs a group of NSS from around the world. The group met in London during September/ As well as the UK, delegates attended from Australia, Canada, France, Germany, India, Japan, Malaysia, New Zealand, Russia, South Africa and the USA. Observers from a number of other countries were present, together with representatives of the IASB, EFRAG and IPSASB.
The meeting discussed a number of topics. The NSS group received updates on the IASB/FASB conceptual framework and the responses to the Discussion Paper published by the IASB 'Measurement Bases for Financial Accounting - Measurement on Initial Recognition'. The UK led a session on accounting for pensions. Other substantive discussions covered intangible assets and goodwill (led by Australia), revenue recognition (led by EFRAG), and prospective financial information (led by New Zealand). A round-table session was also held on the accounting requirements for small and medium-sized entities (SMEs) in different jurisdictions and the potential impact of the outcome of the IASB's project on SMEs.