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  • Public Sector Committee looks to IAS

    27 Feb 2001

    The Public Sector Committee (PSC) of the International Federation of Accountants (IFAC) is developing International Public Sector Accounting Standards (IPSAS) based on International Accounting Standards.

  • ICAI, ICAEW applaud Board appointments

    23 Feb 2001

    Press releases have been issued by both The Institute of Chartered Accountants in Ireland (ICAI) and The Institute of Chartered Accountants in England and Wales (ICAEW) welcoming the European Commission's proposal for a regulation that would require all listed EU companies to prepare consolidated accounts in accordance with IAS.

  • IASC drafts web-reporting specification

    22 Feb 2001

    At its first global meeting this week in London, the Committee announced that IASC has released a draft taxonomy of XBRL for IAS Financial Statements.

  • SIC approves one final, one draft interpretation

    21 Feb 2001

    At its meeting earlier this month, IASC's Standing Interpretations Committee approved a final Interpretation on results of incidental operations (subject to drafting and approval by the IASB) and a new draft Interpretation on measurement of shares issued in a business combination (also subject to drafting). .

  • New PRC standards based in part on IAS

    19 Feb 2001

    The Ministry of Finance of China has adopted three new standards (intangible assets, leases, and borrowing costs – based partly on IAS and partly on US GAAP), revised five existing standards, and adopted a new, comprehensive Accounting System for Business Enterprises. .

  • ACCA voices concern about new Board

    14 Feb 2001

    The Association of Chartered Certified Accountants (ACCA) has taken the position that the announcement of the new IASC board "is a welcome step, but ACCA is concerned that the appointments do not give the new IASC board sufficient experience of the developing world". .

  • EC proposes IAS for all listed companies

    13 Feb 2001

    The European Commission has presented a proposal for a Regulation that would require all EU companies listed on a regulated market, including banks and insurance companies (about 7,000 companies in all), to prepare consolidated accounts in accordance with International Accounting Standards (IAS) by 2005, at the latest.