(revised 24 June 2010)

This Foreword explains the authority, scope and application of the 'UITF Abstracts' issued by the Accounting Standards Board (ASB) that set out the consensus reached by the Urgent Issues Task Force (UITF) on particular issues. The composition and procedures of the UITF are set out in the Appendix to this Foreword.

[Editor's note: The Foreword was updated on 24 June 2010.  The composition and procedures were updated on 21 September 1995 and again on 24 June 2010.]