The European Commission has strongly supported convergence of IFRS with US GAAP. Such a policy has implications for the medium-term evolution of IFRS. From public statements made by the chairman of the IASB and senior SEC staff, the medium-term prospects are for application guidance on the use of fair value, a requirement to produce a single statement of comprehensive income and a move to the US approach to segment reporting. Further use of fair value is unlikely in the medium term but problem areas of IAS 39 such as derecognition will be addressed. In the long term, pensions accounting and leases will come back on to the agenda.
WALTON, P. (2005). La convergence IASB-FASB et ses implications. Revue Française de Comptabilité, pp. 10-12.