One goal, two accounting standard-setters. In the aftermath of the financial crisis, both the International Accounting Standards Board and the U.S. Financial Accounting Standards Board have been laying the foundation for new accounting rules. IASB, with its IFRS 9, and FASB, with its current expected credit loss model, or CECL, do not see eye to eye on the best way to handle this new accounting method. But the standard-setters are united in their aim to jettison the old approach of recognizing losses only when they are probable, in favor of a more forward-looking approach.