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  • EFRAG calls for some new members of its IAWG

    27 Aug 2014

    The European Financial Reporting Advisory Group (EFRAG) is looking for some new members of its Insurance Accounting Working Group (EFRAG IAWG) following the retirement of some of its existing members.

  • US SEC appoints new Chief Accountant

    26 Aug 2014

    The US Securities and Exchange Commission (SEC) has appointed James Schnurr as the new chief accountant in the SEC’s Office of the Chief Accountant to succeed Paul Beswick. In his new role, which begins in October, Mr Schnurr will oversee accounting interpretations, professional practice issues and international accounting matters.

  • IASB issues three investor webcasts

    22 Aug 2014

    As part of its Investor Education Initiative, the IASB has published three investor-focused education webcasts to keep the investor community informed on recent accounting matters. The webcasts are done in collaboration with the CFA Institute.

  • Staff paper on issues in the application of IFRS 9 to Islamic finance

    21 Aug 2014

    The IASB's Consultative Group for Shariah-Compliant Instruments and Transactions will meet in Kuala Lumpur on 5 September 2014 to discuss issues in the application of IFRS 9 'Financial Instruments' to Islamic finance. To this end a staff paper has been prepared addressing issues in the classification of financial instruments under IFRS 9.

  • Summary of the June 2014 CMAC and GPF meeting

    20 Aug 2014

    The IASB has made available a summary and recordings of the discussions held during the joint meeting of the Capital Markets Advisory Committee (CMAC) and the Global Preparers Forum (GPF) on 30 June 2014.

  • IASB proposes amendments regarding the recognition of deferred tax assets for unrealised losses

    20 Aug 2014

    The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IAS 12 'Income Taxes'. As the IASB concluded that diversity in practice around the recognition of a deferred tax asset that is related to a debt instrument measured at fair value is mainly attributable to uncertainty about the application of some of the principles in IAS 12, the proposed amendments consist of some clarifying paragraphs and an illustrating example. Comments are requested by 18 December 2014.

  • Partner standard to IFRS 2 achieves purpose

    20 Aug 2014

    The Financial Accounting Foundation (FAF) has conducted a post-implementation review (PIR) of Financial Accounting Standards Board (FASB) Statement No. 123(R) 'Share-Based Payment'. Statement 123(R) is is largely consistent with IFRS 2 'Share-Based Payment'. The review team notes in its final report that the standard achieves its purpose and "no standard-setting process recommendations resulted from our review".

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