Since the publication of the Norwalk Agreement in 2002, both the Financial Accounting Standards Board (FASB), the regulator in the United States, and the IASB have published new and changed standards in order to converge US Generally Accepted Accounting Principles (US GAAP) with IFRS. Examples are IFRS 5/SFAS 144, IFRS 8/SFAS 131, and the new version of IFRS 3 By Véronique Weets
The International Accounting Standards Board (IASB) has introduced requirements in the last few years to make those involved in business combinations more accountable for the transactions that have taken place. In particular: By Shân Kennedy
The Bretton Woods agreement is a system of economic management rules which leading global industrialized countries signed up to at the end of the World War II.
precedents, and provides concrete suggestions of what to bear in mind when drafting shariah-compliant agreements and capital market documents. It concludes with some reflections on whether it makes sense to set up specialized dispute review bodies for Islamic financing transactions. By Kilian Bälz