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Grant Thornton UK director joins IASB and FASB

Grant Thornton UK director of financial reporting Jake Green has been granted membership of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) Joint Transition Resource Group for Revenue Recognition (TRG).

Green leads Grant Thornton UK's technical team on financial reporting and is also a member of the International Financial Reporting Standards (IFRS) Advisory Council.

As financial reporting director, Green also represents Grant Thornton UK in front of the network's global IFRS interpretations group and revenue implementation group.

The TRG was launched in 2014 with the mandate to advise the IASB and FASB on possible implementation issues arising from the converged standard on the recognition of revenue from contracts with customers, issued in May 2014 by IASB and FASB.

The new standard aims to improve both revenue reporting and comparability reporting between financial statements globally.

Other members of the TRG include representatives from the Big Four, big industry and the wider accounting profession.

Related articles:

FASB and IASB create joint group for revenue recognition standard

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