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July

  • New Zealand debates income tax accounting under IFRS

    02 Jul 2010

    A recent tax law change in New Zealand has resulted in an intense debate in the country about how (the New Zealand equivalent) of IAS 12 Income Taxes should be applied, and impacts on reported profits.

  • Updated EFRAG 'endorsement status report'

    02 Jul 2010

    The European Commission has endorsed the IASB's 29 Januar 2010 Amendments to IFRS 1: Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters.

  • iGAAP newsletter June 2010

    02 Jul 2010

    Deloitte (United Kingdom) has published the June 2010 edition of their quarterly iGAAP Newsletter.

  • PCAOB to discuss impact of IASB-FASB projects on audits

    02 Jul 2010

    The United States Public Company Accounting Oversight Board (PCAOB) has announced a meeting of its Standing Advisory Group (SAG) will be held on Thursday, 15 July 2010. The meeting will include a presentation on projects of the FASB and IASB relating to potentially significant accounting changes affecting US GAAP and IFRS.

  • EU formally adopts amendments to IFRS 1 and IFRS 7

    01 Jul 2010

    The European Union has published the Commission Regulation (EC) No 574/2010 (Amendment to IFRS 1 Limited Exemption from Comparative IFRS 7 Disclosure for First-time Adopters and Amendment to IFRS 7 Financial Instruments: Disclosures) endorsing the amendments adopted by the IASB on 29 January 2010.

  • New name and web address for the IASC Foundation

    01 Jul 2010

    The IASC Foundation has formally changed its name to the IFRS Foundation with effect from 1 July 2010. The change represents the next step in a process to simplify the names in use across the organisation announced following the conclusion of the Constitutional Review in 2010.

  • IASB and FASB post staff draft of proposed financial statement presentation standard

    01 Jul 2010

    The IASB and the US FASB posted to their websites a staff draft of a proposed standard on their joint project to develop a standard on financial statement presentation. The draft reflects the cumulative, tentative decisions made by the boards concluding with their joint meeting in April 2010. However, work on the project is continuing, and the proposals are subject to change before the boards decide to publish an exposure draft for public comment.