The standard setter which writes accounting rules for over 100 countries said it will pause for a while and focus on just a few reforms requested by its users, and bed down rules it has already approved. The International Accounting Standards Board (IASB) has worked on a string of rule changes in response to the financial crisis. In the run up to the crisis banks had been too slow to make provisions for soured loans and other assets, and were also able to shunt many risky assets off their balance sheets, making them appear healthier. IASB Chairman Hans Hoogervorst said a consultation has showed that users of accounting rules want a period of relative calm for a few years, to "let the dust settle" and allow everyone to get used to the new rules. The board will pay closer attention to making sure that the standards it now has are properly implemented. The board will take more time to write new rules by conducting more research and costings first, and consult
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