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  • 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'.

  • Agenda for the September IASB meeting

    18 Sep 2004

    The IASB has announced the agenda for its Board meeting on 21-24 September 2004. The Board will also meet with its partner national standard-setters 27 and 29 September 2004 and with representatives of standard setting bodies from over 30 countries on 27 and 28 September.

  • Comment letters on IFRIC D8 are posted

    18 Sep 2004

    The 22 comment letters received on IFRIC Draft Interpretation D8 Scope of SIC-12 Consolidation – Special Purpose Entities have been Posted on IASB's Website.

  • Hong Kong company explains why it switched to IFRSs

    17 Sep 2004

    Esprit Holdings Limited, a Hong Kong based clothing and cosmetics wholesaler and retailer, has switched from Hong Kong GAAP to IFRSs for its year ended 30 June 2004, as permitted by the Stock Exchange of Hong Kong.

  • Reminder of two comment deadlines next week

    17 Sep 2004

    The comment periods on two documents end next week: D9 Employee Benefit Plans with a Promised Return – 21 September 2004 Discussion Paper: SMEs – 24 September 2004 .