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  • EFRAG and OIC to hold outreach meeting on proactive discussion papers

    29 Feb 2012

    The European Financial Reporting Advisory Group (EFRAG) and the Italian standard setter (Organismo Italiano di Contabilità, OIC) will hold an outreach meeting on 15 March 2012 in Milan regarding discussion papers Accounting for business combinations under common control and Improving the Financial Reporting of Income Tax.

  • Proposed revisions to Code of Ethics

    29 Feb 2012

    The International Ethics Standards Board for Accountants (IESBA) has released proposed changes to the definition of "engagement team" in the IESBA 'Code of Ethics for Professional Accountants' (the Code) to avoid any perceived incompatibility between the Code and the International Standards on Auditing (ISAs).

  • Notes from the February IASB meeting

    28 Feb 2012

    The IASB is holding its regular monthly meeting on 27 February – 2 March 2012 in London, part of it a joint meeting with the FASB. We have posted Deloitte observer notes from the impairment session held on Tuesday.

  • Update on Ukraine’s IFRS transition

    24 Feb 2012

    In June 2011 the changes in law "On accounting and financial reporting in Ukraine" were signed by the President of Ukraine. In accordance with such changes, public interest entities (Public Joint Stock companies, banks, insurance companies, and other companies that operate in financial markets) are required to prepare financial statements in accordance with IFRS.

  • AAOIFI issues two drafts on Islamic accounting

    24 Feb 2012

    The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Sharia'a standards for Islamic financial institutions and the industry. Recently, the AAOIFI has published an exposure draft (ED) and a consultation paper.