Norwalk, Conn. (Sept. 19, 2002) -- The U.S. and the international accounting standards board held a joint meeting Wednesday to further their work on creating a single, global standard – and to shore up the industry’s reputation regarding revenue recognition on financial statements.

The meeting focused mainly on current Financial Accounting Standards Board and International Accounting Standards Board projects on business combinations and financial performance reporting – a topic much in the news following Andersen’s demise and the recently passed Sarbanes-Oxley Act.

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