This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

June

  • FASB issues proposal for disclosing liquidity and interest rate risk

    29 Jun 2012

    On June 27, 2012, the U.S. accounting standard setter (FASB) issued proposed amendments relating to disclosures about liquidity risk and interest rate risk. The proposals would require a reporting entity to adopt new qualitative and quantitative disclosures about liquidity and interest rate risk. Under the proposals all entities must provide disclosures about liquidity risk, and “financial institutions” also would provide disclosures about interest rate risk.

  • ESMA publishes IFRS enforcement report

    29 Jun 2012

    The European Securities and Markets Authority (ESMA) has published to its website an 'Activity Report on IFRS Enforcement in the European Economic Area in 2011'. In 2011, the Euro crisis was one of the major drivers of the various IFRS enforcement activities at EEA and Member State level.

  • IASB amends transition guidance for IFRS 10

    28 Jun 2012

    The IASB has published ‘Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance’ (Amendments to IFRS 10, IFRS 11 and IFRS 12). These amendments will help to alleviate concerns that the transitional requirements of IFRS 10 ‘Consolidated Financial Statements’ are more burdensome than had been intended. The line-by-line information required by IAS 8 paragraph 28(f) is limited to immediately preceding period.

  • New Zealand exposure drafts propose IPSAS adoption for certain public sector entities

    28 Jun 2012

    The New Zealand External Reporting Board (XRB) and the New Zealand Accounting Standards Board (NZASB) have issued for comment a set of over 40 Exposure Drafts that propose to operationalise the new Accounting Standards Framework as it applies to Tier 1 and Tier 2 'Public Sector Public Benefit Entities' (PS PBEs, essentially public sector entities without a profit motive). The new framework is based on International Public Sector Accounting Standards (IPSAS).

  • IASB publishes 'Request for Information: Comprehensive Review of the IFRS for SMEs'

    26 Jun 2012

    The IASB, in cooperation with the SME Implementation Group (SMEIG), has developed and issued a Request for Information seeking comments on specific sections of the 'IFRS for SMEs', as well as soliciting general feedback from respondents on their experiences with it. Respondents are encouraged to discuss potential amendments they'd like to see made to the 'IFRS for SMEs', and raise any other issues they'd like to put forward. The document does not contain any preliminary views of the IASB or the SMEIG. Responses are due by 30 November 2012.

  • New resource on sustainability and integrated reporting

    26 Jun 2012

    A publication by Deloitte, the United Nations Environment Programme and the Centre for Corporate Governance in Africa at the University of Stellenbosch Business School serves to provide an international perspective on integrated reporting, by articulating the views of internationally pre-eminent role players on topical issues associated with integrated reporting and integrated reports.

  • IPSASB consults on public sector combinations

    26 Jun 2012

    The International Public Sector Accounting Standards Board (IPSASB) has released a Consultation Paper 'Public Sector Combinations'. The Consultation Paper is the result of the IPSASB's project on on accounting for public sector combinations and aims to present a principles-based approach to developing guidance for public sector entities accounting for such combinations. Some of the possible accounting approaches outlined in the paper are significantly different to those prescribed under IFRSs.