BRUSSELS, March 18 (Reuters) - A top accounting standards setter launched a public consultation on Wednesday over whether it should bring its rules in line with the United States in order to maintain a consistent global approach.
The International Accounting Standards Board (IASB), which sets accounting rules used in over 100 countries that are mandatory for companies in the 27-nation European Union, said it was seeking views on new proposals by the U.S. Financial Accounting Standards Board (FASB).
FASB, which sets U.S. accounting rules, published two proposals on Wednesday intended to give companies more guidance on how to apply mark-to-market rules.
“In October 2008 the two boards committed themselves to a joint approach in dealing with reporting issues arising from the global financial crisis,” the IASB said in a statement. (Reporting by Huw Jones; Editing by Brian Moss)