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December

  • Challenge to legitimacy of the PCAOB continues

    04 Dec 2009

    On 7 December 2009, oral argument begins in a US Supreme Court case in which the constitutionality of the Public Company Accounting Oversight Board (PCAOB) is being challenged. If the plaintiffs' arguments are successful, it could mean an end to the existence of the PCAOB as currently structured under law.

  • EU will create 3 financial supervisory authorities

    04 Dec 2009

    The Council of Finance and Economics Ministers of the European Union, meeting in Brussels on 2 December 2009, agreed on a general approach on draft regulations that would create three new authorities for the supervision of financial services in the EU, namely:

  • Eight IFRSs await EU endorsement

    04 Dec 2009

    The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement of IFRSs under the EU Accounting Regulation.

  • IPSASB consults on sustainability reporting

    02 Dec 2009

    The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) has published a Consultation Paper Reporting on the Long-Term Fiscal Sustainability of Public Finances.

  • Japan will allow some companies to use IFRSs

    02 Dec 2009

    As we Reported in June 2009, on 30 June 2009, the Business Accounting Council (advisory body to the Financial Services Authority of Japan (FSA)) approved its Opinion on the Application of International Financial Reporting Standards (IFRS) in Japan (Interim Report).

  • Notes from Tokyo fair value roundtable

    01 Dec 2009

    On 27 November 2009, the IASB held a roundtable at the ASBJ offices in Tokyo, Japan, to discuss its Fair Value Measurements exposure draft (ED).

  • Role of the audit committee in IFRS conversion

    01 Dec 2009

    Deloitte (United States) has published an Audit Committee Brief newsletter on Making the Transition to IFRS: The Role of the Audit Committee. The newsletter identifies specific steps the audit committee can take, along with other board committees and management, to help develop the company's strategic plan on IFRSs.