IASB set to launch Euro advisory group

The officials -- from European accounting, banking and insurance industries and regulators -- will advise the IASB on ‘certain basic’ issues surrounding accounting and regulatory philosophy, specifically fair-value accounting.

As mooted by the euro official Frits Bolkestein earlier this month, the concept of the group came from discussions with the European Commission, which has been invited to participate in the group’s discussions as an observer.

Although discussions about IAS 32 and 39 mus