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  • EFRAG will do cost-benefit assessments of IFRSs

    Oct 30, 2007

    The October 2007 Edition of EFRAG Update, published by the European Financial Reporting Advisory Group, reports that EFRAG is likely to extend the work that it normally carries out in making IFRS endorsement recommendations to the European Commission to include 'some form of cost-benefit study' for individual IFRSs, including Interpretations.

  • Updated EFRAG endorsement status report

    Oct 29, 2007

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

  • AICPA testifies in support of IFRSs

    Oct 27, 2007

    In our news story of 26 October, we reported on testimony by IASB Chairman Sir David Tweedie and FASB Chairman Robert Herz at a US Senate Subcommittee hearing on International Accounting Standards: Opportunities, Challenges, and Global Convergence Issues.

  • Swiss Exchange guidance on IFRS implementation

    Oct 27, 2007

    The Swiss Stock Exchange (SWX) has released its Annual Communique identifying the areas on which they expect to focus in their regulatory reviews of annual financial reports for 2007 and semi-annual financial reports for 2008 of Swiss Exchange (SWX) listed companies.

  • US Senate committee hearing on IFRSs

    Oct 26, 2007

    On 24 October 2007, the US Senate Committee on Securities, Insurance, and Investment conducted a hearing on International Accounting Standards: Opportunities, Challenges, and Global Convergence Issues.

  • SEC OKs use of a surrogate to value employee share options

    Oct 25, 2007

    In a letter to Zions Bancorporation, SEC Chief Accountant Conrad Hewitt indicated that ESOARS ('employee stock option appreciation rights securities') are sufficiently designed to meet the measurement objective of FASB Statement No. 123(R) Share-Based Payment.

  • European study on ownership rules for auditing firms

    Oct 24, 2007

    The Internal Market Directorate of the European Commission has published an independent study on the ownership rules that apply to audit firms and the consequences of those rules on audit market concentration.