Dr. Wilson, while praising the achievement of IASB said that the irrefutable achievement of IASB comes with large responsibility. He further said, "Ernst & Young fully supports the constitutional review by the IASC Foundation planned for this year and encourages the Foundation to take on board the various concerns expressed by constituents."

The achievement of IASB and the extensive use of IFRS coincide with the launch of Ernst & Young's "International GAAP® 2008". This book, published by John Wiley and penned by financial reporting experts from Ernst & Young, offers a detailed interpretation of IFRS.

International GAAP® 2008 is completely revised and expanded with over 800 pages added from the edition of 2007. This book provides detailed guidance on the explanation and the application of International Financial Reporting Standards from a global viewpoint. The book also includes a new section on accounting for Extractive Industries such as gas, oil and mining. It is not constrained by financial reporting regulations of any individual country.