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  • Proposed FASB hierarchy includes IFRSs

    Apr 29, 2005

    The US Financial Accounting Standards Board has issued an exposure draft of a proposed Statement of Financial Accounting Standards titled The Hierarchy of Generally Accepted Accounting Principles.

  • Twelfth UK webcast update on transition to IFRSs

    Apr 29, 2005

    The Deloitte London IFRS Centre of Excellence is running a monthly series of hour-long Internet-based IFRS technical updates, focusing on the most important international accounting standards and how they will affect UK companies.

  • McCreevy discusses convergence, equivalence

    Apr 29, 2005

    In a (PDF 92k) on the integration of Europe's financial markets and international cooperation in New York on 20 April 2005, EC Internal Markets Commissioner Charlie McCreevy discussed, among other things, the reconciliation from IFRS to US GAAP, accounting convergence, the internal control provisions of Section 404 of the Sarbanes Oxley Act, and deregistration.

  • CESR publishes its draft equivalency report

    Apr 29, 2005

    The Committee of European Securities Regulators (CESR) has invited comments on its tentative conclusions that Canadian, Japanese, and US GAAP, taken as a whole, are "equivalent to IFRSs, subject to a number of additional disclosures" for the purpose of listings by non-European companies in European public securities markets.

  • Comments invited on due process, IFRIC

    Apr 27, 2005

    The Trustees of the International Accounting Standards Committee Foundation (IASCF) have published for public comment two consultation documents: Due Process of IASB: Draft Handbook of Consultative Arrangements. IFRIC - Review of Operations: Consultative Document. The deadline for public comment on both documents is 31 July 2005. You can download the invitations to comment from the IASB Website.

  • IASB expands its SME working group

    Apr 26, 2005

    The IASB has expanded its working group on Accounting Standards for Small and Medium-sized Entities (SMEs) to include more preparers and users of SME financial statements as well as others with a particular SME expertise.

  • SEC 'roadmap' to eliminating IFRS reconciliation

    Apr 22, 2005

    William Donaldson, Chairman of the US SEC, and Charles McCreevy, EU Internal Market Commissioner, met yesterday in Washington to discuss a range of topics of mutual interest between the SEC and the European Union, including expanding the use of high-quality global accounting standards and eliminating the reconciliation to US GAAP for IFRS filers.

  • 'A Securities Regulator Looks at Convergence'

    Apr 22, 2005

    The US Securities and Exchange Commission has released for public distribution an article titled A Securities Regulator Looks at Convergence, by SEC Chief Accountant Donald T.