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  • Deloitte comment letter on IFRIC D9

    22 Sep 2004

    We have submitted our letter of comment on IFRIC Draft Interpretation D9 Employee Benefit Plans with a Promised Return on Contributions or Notional Contributions: (PDF 59k). Summary of D9. Deloitte's overall view: We note that the IFRIC's conclusions in paragraphs 4(a) and 5 of the draft interpretation are consistent with the tentative decisions of the US Financial Accounting Standards Board (FASB).

  • IFAC report on implementing international standards

    21 Sep 2004

    A new study, commissioned by the Board of the International Federation of Accountants (IFAC), identifies the challenges to adopting and implementing International Financial Reporting Standards (IFRSs) and International Standards on Auditing (ISAs) and recommends actions to be taken by all those in the financial reporting supply chain to achieve convergence to international standards.

  • Deloitte letter to EFRAG re IAS 39 'carve out'

    21 Sep 2004

    Deloitte has written to EFRAG urging that any 'Carve Out' of sections of IAS 39 be applicable only to banks, and then only as an option that also permits banks to use the full unmodified version of IAS 39. Our letter states that "our comments are offered in the context of seeking to help the Commission to find a way forward.

  • Additional information about ARC 1 October meeting

    20 Sep 2004

    Our news story of 19 September noted that the Accounting Regulatory Committee will meet on 1 October 2004 to decide on whether to recommend endorsement of IAS 39. Also on the agenda for that meeting will be the questions of whether to endorse: The improvements to 14 IASs that were adopted as revised standards in December 2003 (to date, the EC has endorsed only the pre-2003 versions). IFRS 2 Share-based Payment IFRS 3 Business Combinations and related amendments to IAS 36 and IAS 38 IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale and Discontinued Operations The EC has not yet endorsed IAS 32 Financial Instruments: Presentation and Disclosure as revised in December 2003 (only the pre-2003 version has been endorsed) or IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities.

  • ARC will meet on 1 October to consider IAS 39

    19 Sep 2004

    The Accounting Regulatory Committee will meet on 1 October 2004 to decide on whether to recommend that IAS 39 Financial Instruments: Recognition and Measurement should be endorsed for use in Europe it its entirety or with two sections 'carved out'.