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  • European endorsement of IFRS is completed

    30 Sep 2003

    The European Commission has formally adopted a regulation endorsing IFRS and related interpretations, as Recommended by the Commission's Accounting Regulatory Committee in July.

  • IASB and SAC meeting schedule for 2004

    27 Sep 2003

    The International Accounting Standards Board will meet monthly (except August) in 2004, including three meetings with the Standards Advisory Council (SAC).

  • IFRIC meeting schedule for 2004

    27 Sep 2003

    The International Financial Reporting Interpretations Committee has scheduled seven meetings during 2004. All will be held at the IASB's offices in London: I F R I C M E E T I N G S 2 0 0 3 London, UK 30 September-1 October 2003 London, UK 2-3 December 2003 I F R I C M E E T I N G S 2 0 0 4 London, UK 3-4 February 2004 London, UK 23-24 March 2004 London, UK 4-5 May 2004 London, UK 3-4 June 2004 London, UK 29-30 July 2004 London, UK 7-8 October 2004 London, UK 2-3 December 2004 .

  • New Australia Accounting Alert posted

    25 Sep 2003

    We have posted the 22 September 2003 newsletter (PDF 111k), which contains an update on recent releases issued by the Australian Accounting Standards Board as part of the convergence process with International Financial Reporting Standards.

  • Five draft Interpretations expected before year end

    25 Sep 2003

    In a presentation at the IASB's meeting with world standard setters on 22 September 2003, Kevin Stevenson, chairman of the International Financial Reporting Interpretations Committee (IFRIC), announced that IFRIC is likely to issue five draft interpretations in the fourth quarter of 2003. They will deal with: Rights of Use of Assets IAS 37, Decommissioning Funds IAS 19, Pension Plans with Minimum Return Guarantees IAS 19, Multi-Employer Pension Plans IAS 11, Construction Contracts Two Draft Interpretations (D1 on Emission Rights and D2 on Decommissioning) are currently outstanding.

  • Applying IFRS in the extractive industries

    24 Sep 2003

    The IASB has approved in principle the proposals that will be included in an exposure draft on how companies in the mining and oil and gas industries should apply existing IFRS.

  • IASB plans for releasing final Standards

    24 Sep 2003

    The IASB is committed to providing a 'stable platform' for the transition to IFRS in Europe in 2005. 'Stable platform' means issuing, by 31 March 2004, all of the new and revised Standards that will be required for companies adopting IFRS in 2005, with no further changes until after 2005. At its meeting on 22 September 2003 with representatives of the accounting standard setting bodies in 40 countries, the IASB announced the following plans for releasing various Standards currently under development:IASB's Publications Programme for the 2005 "Stable Platform" Fourth Quarter 2003: Improvements – 10 revised IAS by 31 October and 2 more revised IAS by 30 November Amendments to IAS 32 and IAS 39 – by 30 November (without the proposed portfolio hedging amendments) Extractive Industries Exposure Draft – by 31 October First Quarter 2004 (all likely in March 2004): Share-based payment Business Combinations Phase I – 3 Standards Insurance Contracts Phase I Portfolio Hedging Amendments to IAS 39 Asset Disposals and Discontinued Operations The Board also announced that each of its final Standards and Interpretations will be made available on its Website without charge (not including basis for conclusions and implementation guidance).