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2006

  • IFAC ethics proposals on auditor independence

    30 Dec 2006

    The International Ethics Standards Board for Accountants (IESBA) has issued an exposure draft proposing to update and strengthen the auditor independence requirements contained in the IFAC Code of Ethics for Professional Accountants.

  • SEC amends executive compensation disclosures

    29 Dec 2006

    The US Securities and Exchange Commission has amended its executive and director compensation disclosure rules to more closely conform the reporting of stock and option awards to FASB Statement No. 123 (revised 2004) Share-Based Payment.

  • Updated EFRAG endorsement status report

    29 Dec 2006

    The European Financial Reporting Advisory Group has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

  • IAS Plus availability and speed are still not normal

    29 Dec 2006

    The Hong Kong government reports it will take at least five to seven days to repair the six undersea fibre-optic cables off the coast of Taiwan damaged by a series of earthquakes on 26 December 2006 (see our Earlier Story).

  • Six exposure drafts from IAASB

    26 Dec 2006

    The International Auditing and Assurance Standards Board (IAASB) approved a proposed revised International Standard on Auditing (ISA) 580 (Revised and Redrafted) Written Representations, as well as five exposure drafts of revised standards written in accordance with the IAASB's new clarity drafting conventions.

  • Heads Up newsletter on AICPA SEC/PCAOB conference

    22 Dec 2006

    Annually, the American Institute of Certified Public Accountants hosts a conference featuring speeches by, and question-and-answer sessions with, representatives of the Securities and Exchange Commission, the Public Company Accounting Oversight Board, and other standard setters.

  • European Central Bank report on IFRSs

    21 Dec 2006

    The European Central Bank (ECB) has published a report titled Assessment of Accounting Standards from a Financial Stability Perspective that was prepared by the ESCB Banking Supervision Committee.