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  • EFRAG comment letter on SMEs

    Oct 15, 2004

    The European Financial Reporting Advisory Group (EFRAG) has submitted its Letter of Comment to the IASB on the IASB's Discussion Paper Preliminary Views on Accounting Standards for Small and Medium-sized Entities (PDF 103k). .

  • FASB agrees to delay its stock options standard

    Oct 14, 2004

    The US Financial Accounting Standards Board has voted to delay the effective date of its proposed standard on accounting for equity-based compensation by six months – to interim or annual periods beginning after 15 June 2005. Therefore, an entity would apply the final statement to all employee awards of share-based payment granted, modified, or settled in any interim or annual period beginning after 15 June 2005. FASB's exposure draft would require recognition of an expense for all equity-based compensation, including stock options.

  • Reminder – comment deadline on ED 7 is next week

    Oct 14, 2004

    The deadline for comments on Exposure Draft 7: Financial Instruments: Disclosures is Friday, 22 October 2004. ED 7 would: add certain new disclosures about financial instruments to those currently required by IAS 32, replace the disclosures now required by IAS 30, and put all of those financial instruments disclosures together in a new standard on Financial Instruments: Disclosures.

  • UK ASB urges compliance with full IAS 39

    Oct 13, 2004

    The United Kingdom Accounting Standards Board has issued a statement on the implications for UK financial reporting of the modified version of IAS 39 Financial Instruments: Recognition and Measurement recently endorsed by the Accounting Regulatory Committee of the European Commission.

  • IASB convergence project with Japan

    Oct 13, 2004

    The International Accounting Standards Board and the Accounting Standards Board of Japan (ASBJ) have held the first meeting to plan a joint project aimed at minimising differences between IFRSs and Japanese accounting standards towards a final goal of convergence of their standards.

  • ARC opinion on IAS 39

    Oct 13, 2004

    We have inserted a link to the official report of the decisions of the EU Accounting Regulatory Committee on endorsement of IAS 39 into our 4 October 2004 News Story about the ARC meeting. .

  • New EITF Roundup is available

    Oct 13, 2004

    We have posted the (PDF 117k), which provides an overview of the issues discussed, consensuses reached, and administrative matters discussed at the 29-30 September 2004 meeting of FASB's Emerging Issues Task Force.

  • IASC Foundation trustees will meet 25 October 2004

    Oct 12, 2004

    The trustees of the IASC Foundation, under which the IASB operates, will meet at the IASB's offices in London starting at 9:00am on Monday 25 October 2004. Agenda items include Report of the Constitution Committee Report of the IASB chairman: Update on IASB activities Report on IASB consultative procedures Recommendations regarding relationships with national standard-setters Report of the Trustees' Committee on IASB Procedures .

  • PCAOB staff Q&As on internal controls

    Oct 12, 2004

    The US Public Company Accounting Oversight Board has published a second set of staff questions and answers related to PCAOB Auditing Standard No.