April

CEBS 'Principles for Disclosures in Times of Stress'

27 Apr 2010

The Committee of European Banking Supervisors (CEBS) has published Principles for Disclosures in Times of Stress.

These guidelines are intended to help financial institutions consider lessons learned from the recent financial crisis in preparing their public financial disclosures. The principles build on the conclusions derived from the four assessments of banks' disclosures performed by CEBS. The guidelines encourage enhanced quality of disclosures without amending, duplicating, or adding to existing disclosure requirements or recommendations, such as those in IFRSs, Pillar 3, and listing rules. Click for:

Agenda project pages updated

26 Apr 2010

We have updated the following IASB agenda project pages on IAS Plus to reflect the discussions and decisions at the IASB's April 2010 Board meeting and joint meeting with FASB:

Special meeting tentatively planned for 4 May

26 Apr 2010

The IASB has tentatively scheduled a special joint meeting with the FASB on Tuesday 4 May 2010 at the IASB's offices in London, tentatively planned for 12:30 to 4:45pm London time.

An agenda has not yet been announced. If held, the meeting will be open to public observation and will be webcast.

Reducing Financial Reporting Risk in Spanish

25 Apr 2010

Deloitte (Colombia) has published Reducción del riesgo en la presentación de reportes financieros: Es más que establecer controles financieros.

IFRS Insights in Spanish

24 Apr 2010

Deloitte (Colombia) has published IFRS Insights - Vol 14, Enero/Febrero 2010: El logro de un estándar global.

Notes from April 2010 IASB meeting day 4

24 Apr 2010

The IASB held its April 2010 monthly Board meeting at its offices in London on Tuesday to Friday, 20-23 April 2010. Portions of the meeting were joint meetings with FASB, including the entire session on 20 April.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

 

Notes from April 2010 IASB meeting day 3

24 Apr 2010

The IASB is holding its April 2010 monthly Board meeting at its offices in London on Tuesday to Friday, 20-23 April 2010. Portions of the meeting are joint meetings with FASB, including the entire session on 20 April.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

FASB letter to Congress on derecognition accounting

23 Apr 2010

The US Financial Accounting Standards Board (FASB) has sent a letter to the US House of Representatives Financial Services Committee commenting on the accounting standards and relevant guidance relating to repurchase agreements for the Committee's April 20, 2010 hearing Public Policy Issues Raised by the Report of the Lehman Bankruptcy Examiner.

The issues discussed in the letter relate directly to the joint IASB-FASB project on Derecognition of Financial Instruments. Click to Download the FASB's Letter to the SEC (PDF 73k).

 

Notes from April 2010 IASB meeting day 2

22 Apr 2010

The IASB is holding its April 2010 monthly Board meeting at its offices in London on Tuesday to Friday, 20-23 April 2010. Portions of the meeting are joint meetings with FASB, including the entire session on 20 April.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

 

We comment on draft XBRL IFRS taxonomy

22 Apr 2010

Deloitte Touche Tohmatsu has responded to the exposure draft of IFRS Taxonomy 2010, which was published in the form of proposed amendments to the 2009 Taxonomy.

We continue to support the efforts of the IASC Foundation to create and maintain a high-quality taxonomy that will meet the needs of stakeholders seeking to use XBRL for financial reporting and analysis. At the same time, we believe that there are some fundamental issues regarding the taxonomy's architecture, versioning, and update process that need to be addressed separately from the 2010 update. Click to download our Comments on Draft XBRL IFRS Taxonomy for 2010 (PDF 27k). Below is an excerpt.

The proposed approaches to (1) referencing different versions of IFRSs from the two publications cited in the exposure draft and (2) differentiating the deprecated schema from the core schema may be viable in the short term, but they raise fundamental questions regarding taxonomy and concept-versioning that are not addressed in the exposure draft. The discussion below highlights certain limitations of the approach proposed in the exposure draft, and we therefore encourage the IASCF to consider whether a 'perpetual taxonomy' construct might be better suited for long-term use and extensibility and whether such an approach would mitigate version-management-related issues. We also recognize, however, that other approaches may address these issues.

All of our past comment letters to IASB, IFRIC, and IASCF are Here.

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.