MEDIA ADVISORY 06/09/08

WHAT:

The Financial Accounting Foundation and the Financial Accounting Standards Board will host a forum entitled: “High-Quality Global Accounting Standards: Issues and Implications for U.S. Financial Reporting “

WHEN:

The event will take place Monday, June 16, 2008, from 9 a.m. to 4 p.m.

WHERE:

Baruch College, Vertical Campus, 55 Lexington Avenue, New York, NY

WHY:

The purpose of the forum is for the FAF and the FASB to open a dialogue with constituents about whether and how to continue to move the U.S. toward high-quality global accounting standards.   Panelists will include users of financial statements, representatives of small and large companies both public and private, auditors, regulators, educators, and others representing facets of the U.S. economy that would be affected if there were a move from U.S. Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS).

Issues expected to be discussed include whether IFRS and U.S. GAAP should ultimately converge and, if so, how and when; how to prepare the U.S. for a possible shift to IFRS.

RSVP:

Due to limited space, journalists interested in attending the forum are required to RSVP. The forum will also be webcast live on www.fasb.org. To RSVP, please call or email Joanna Romersa, 203-956-5252, or jrromersa@f-a-f.org. For more information, log on to www.fasb.org.