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October

October 2001 IASPlus newsletter is published

08 Oct 2001

The October 2001 edition of our IASPlus newsletter has 32 pages of news about IASB and International Accounting Standards, including country developments in Asia-Pacific.

Europe-Africa and Americas October editions will be out shortly. Click:

EU to consider requiring International Standards on Auditing

07 Oct 2001

The Committee on Auditing of the European Commission will meet in November to consider a proposal to require that audits of listed companies comply with International Standards on Auditing (IASs).

Philippe Richard is the new IOSCO Secretary General

04 Oct 2001

IOSCO has named Philippe Richard as its new Secretary General for a three-year term starting tomorrow.

He replaces Peter B. Clark. Mr. Richard was until recently Deputy Director at the Secretariat of the French Credit Institutions and Investment Firms Committee. Prior to that, he has worked for the European Bank for Reconstruction and Development and the French Banking Commission. Click for:

Implementation of a 'management approach' to segment definition

04 Oct 2001

Both IAS 14 and FASB 131 take a 'management approach' to defining business and geographical segments, and the segment definitions in both standards are quite similar.

For that reason, the following comments in a recent speech by Robert Bayless, Chief Accountant of the US SEC Division of Corporation Finance, are of interest:

The staff also has focused on the Statement 131 disclosures because, frankly, we are concerned that too many companies have not responded adequately to Statement 131's mandate to present separately financial information for those business components that are regularly reviewed by the chief operating decision maker. It's difficult to believe that chief operating decision makers review as little disaggregated information as some companies' segment disclosure would have us believe.

Click for (PDF 71k).

No extraordinary item treatment for terrorist attack costs

03 Oct 2001

Reversing an earlier decision, FASB's EITF concluded that losses relating to the 11 September terrorist attack in the USA should not be reported as extraordinary items. .

Reversing an earlier decision, FASB's EITF concluded that losses relating to the 11 September terrorist attack in the USA should not be reported as extraordinary items.

Agenda is set for IASB's October meeting

03 Oct 2001

IASB will meet in Washington 16-17 October with its Advisory Council.

On 18-20 October, IASB will hold its own meeting at which the agenda will include: Click for Detailed Agenda.

Correction list for hyphenation

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