Joanna Krasodomska
  Abstract: The article presents the latest events concerning the development of global accounting standards. The basic features of IFRS and US GAAP have been characterized and the main standard-setting bodies presented. It was noted that after a few years of cooperation the agreement between IASB and FASB was made. With the participation of IOSCO, the EU, and the SEC, these two organizations decided to jointly develop a new set of high quality accounting standards.