Conceptual Framework (joint project FASB / IASB) - Phase D Reporting entity

In October 2004, the Boards decided to add to their agendas a joint project to develop an improved and common conceptual framework that is based on and builds on their existing frameworks, (that is, the IASB's Framework for the Preparation and Presentation of Financial Statements and the FASB's Statements of Financial Accounting Concepts).

This is the fourth phase of the Conceptual Framework project, dealing with questions surrounding the reporting entity. The Board published a Discussion Paper jointly with the FASB in May 2008.