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News

  • US Federal Reserve Board Governor supports IFRSs

    14 May 2004

    In her Testimony (PDF 145k) yesterday before the US House of Representatives Financial Services Committee, Federal Reserve Board Governor Susan Schmidt Bies expressed strong support for the use of International Financial Reporting Standards by global banking organisations.

  • EU Council approves Parliament's "Transparency Directive"

    13 May 2004

    At its meeting on 10-11 May 2004, the Council of Economics and Finance Ministers of the European Union voted to support the draft Directive on transparency that was approved by the European Parliament on 30 March 2004. The Directive establishes minimum requirements with regard to information to be reported by issuers whose securities are admitted to trading on a regulated market.

  • Ratings agency studies impact of IFRS 4 Insurance Contracts

    11 May 2004

    Fitch Ratings – a leading global fixed income rating agency – has analysed the implications of IFRS 4 Insurance Contracts and has concluded that Fitch "does not expect any rating actions as a direct result of the move to IFRS.

  • IFAC is studying IFRS implementation issues

    09 May 2004

    The IFAC Board has begun a project to obtain the views of individuals and groups of professional accountants and other stakeholders on the extent to which they have seen challenges and successes in implementing IFRSs and International Standards on Auditing.

  • IFAC adopts mandatory continuing education standard

    08 May 2004

    The International Federation of Accountants has issued a new International Education Standard that would require every member of an IFAC member body to complete continuing professional development activities relevant to their work on an ongoing basis.