Related news

• EU formally adopts various new or amended IFRSs and IFRIC 20

• Dec 29, 2012

• The European Union has published Commissions Regulations endorsing the "package of five" standards on consolidation (IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011)), IFRS 13, IFRIC 20, and amendments to IFRS 1 (hyperinflation and fixed dates), IAS 12 (recovery of underlying assets) and IFRS 7/IAS 32 (offsetting). The "package of five" standards come with a European effective date of 1 January 2014. However, early application is permitted.

• Summary of EFRAG joint outreach events on the post-implementation review of IFRS 8 across Europe

• Dec 18, 2012

• EFRAG outreach events on the post-implementation review of IFRS 8 were offered in several European cities throughout autumn 2012.

• Results of the Eurostat consultation on the suitability of IPSAS for the EU Member States

• Dec 18, 2012

• In February 2012, the Statistical Office of the European Union (Eurostat) issued a public consultation on the assessment of suitability of the International Public Sector Accounting Standards (IPSAS) for the Member States of the EU. The results of the survey show mixed views.

• FEE roundtable on better financial reporting through audit committee improvements

• Dec 07, 2012

• The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has announced a roundtable to further discuss improvements to the functioning of audit committees, which are considered essential for the quality of financial information provided by companies. The roundtable follows the publication of a discussion paper on the same topic in June 2012. It will be held in Brussels on 5 February 2013.

• FEE publishes policy statement on the EC proposals for the recast of the 4th and 7th Accounting Directives

• Dec 06, 2012

• On 25 October 2011 the European Commission published proposals for revising the Accounting Directives and the Transparency Directive which have been discussed widely throughout Europe. The final report of the European Parliament Legal Affairs Committee (JURI) of 25 September 2012 however seems to indicate that there is a gap between the views in the European Parliament and the Council. The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) believes that some of the differences are due to misconceptions and has therefore published a Policy Statement that is intended to inform the debate and also to represent the accountants' view as a third major party involved in the discussions.

• ESMA Chair discusses U.S. IFRS adoption, global consistency in IFRS

• Dec 03, 2012

• The European Securities and Markets Authority (ESMA) has released the text of a speech given by Steven Maijoor (ESMA Chair) to a recent Audit Quality Symposium held by the Canadian Public Accountability Board. In the speech, Mr Maijoor reiterated many of his previous comments, including disappointment at a lack of a decision on IFRS in the United States, and consistency in application of IFRS on a global basis.

• EFRAG Update with a summary of the October and November 2012 EFRAG conference calls and meetings

• Nov 15, 2012

• The European Financial Reporting Advisory Group (EFRAG) has released the November 2012 issue of its EFRAG Update newsletter.

• ESMA Chair discusses enforcement of IFRS, United States adoption

• Nov 13, 2012

• In a speech recently posted to the European Securities and Markets Authority's (ESMA's) website, Mr Steven Maijoor (ESMA Chair) has outlined his views on a number of topics, including consistent application of IFRS and the possible adoption of IFRS in the United States. On the latter point, Mr Maijoor lamented he is "personally disappointed with the lack of ambition regarding IFRS on the other side of the Atlantic".

• EFRAG endorsement status report 9 November 2012

• Nov 09, 2012

• The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

• EFRAG endorsement status report 29 October 2012

• Oct 29, 2012

• The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

• EFRAG outreach on disclosures - event in Rome

• Oct 29, 2012

• EFRAG outreach events on the EFRAG/ANC/FRC discussion paper on disclosures are currently being offered throughout Europe. Details for the event in Rome have now been announced.

• EFRAG outreach on disclosures - event in Stockholm

• Oct 19, 2012

• EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Stockholm have now been announced. This outreach event is by invitation only and will focus on the disclosure discussion paper only.

• EFRAG outreach on disclosures - event in London

• Oct 18, 2012

• EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in London have now been announced. This outreach event will focus on the disclosure discussion paper only.

• EU perspective on global accounting standards

• Oct 16, 2012

• At a recent joint conference held by the EFRAG and the Trustees of the IFRS Foundation, prominent European speakers held a roundtable discussion on the European Union’s perspective on the move towards global accounting standards.

• UK FRC publishes paper on disclosure

• Oct 16, 2012

• The United Kingdom Financial Reporting Council (FRC) has published a discussion paper on enhancing disclosure in financial reporting. The paper states that one of its aims is to influence the IASB before it commences its disclosure framework project, and it identifies a number of action points for the IASB.

• EFRAG outreach on disclosures - event in Warsaw

• Oct 12, 2012

• EFRAG and the Polish Accounting Standards Committee (KSR) in association with the National Chamber of Statutory Auditors (KiBR) and the Association of Accountants in Poland (SKwP), will be hosting an outreach event on the EFRAG/ANC/FRC discussion paper on disclosures on 8 November 2012.

• ESMA publishes more enforcement decisions

• Oct 11, 2012

• The European Securities and Markets Authority (ESMA) has published another batch of extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IAS 38, IAS 27, IAS 40/IAS 1, IAS 18, IFRS 8, and IAS 36.

• EFRAG Update with a summary of the October 2012 EFRAG meetings

• Oct 10, 2012

• The European Financial Reporting Advisory Group (EFRAG) has released the October 2012 issue of its EFRAG Update newsletter.

• EFRAG endorsement status report 8 October 2012

• Oct 08, 2012

• The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

• EFRAG outreach on disclosures - event in Vilnius

• Oct 04, 2012

• EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Vilnius have now been announced. This outreach event will focus on the disclosure discussion paper only.

• UK FRC issues exposure draft amending FRED 48

• Oct 03, 2012

• The United Kingdom Financial Reporting Council (FRC) has issued an exposure draft of limited scope amendments to Financial Reporting Exposure Draft (FRED) 48: Draft FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.' The limited scope amendments relate to 1) multi-employer defined benefit pension plans and 2) grantors of service concession arrangements.

• EFRAG outreach on disclosures - event in Amsterdam

• Oct 01, 2012

• EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Amsterdam have now been announced. This outreach event will focus on the disclosure discussion paper only.

• EFRAG outreach on PIR IFRS 8 and on disclosures - events in Copenhagen and Frankfurt

• Sep 25, 2012

• EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the events in Copenhagen and Frankfurt have now been announced.

• EFRAG outreach on PIR IFRS 8 and on disclosures

• Sep 21, 2012

• The European Financial Reporting Advisory Group (EFRAG) offers an outreach event on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures on Thursday 11 October 2012 in Brussels.

• European Parliament committee approves proposals on country-by-country reporting and on reducing bureaucracy for smaller EU firms

• Sep 19, 2012

• In its 18 September 2012 meeting, the European Parliament committee on legal affairs (JURI) approved a package of proposals imposing on large companies extracting oil, gas and minerals and loggers of primary forests a new obligation to provide full details on their payments to national governments. It also endorsed changes to existing EU accounting legislation aimed at reducing bureaucracy for smaller EU firms.