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31 March 2003: German standard-setter reorganises with international focus
The German Accounting Standards Committee (GASC), the standard setter for financial accounting and reporting in Germany, has restructured itself. Under the new structure, "the GASC's key objective is to represent the interests and concerns of German business in international standard-setting bodies, such as the IASB and the FASB." The restructuring includes a new chairman, new executive leadership, and a revised governance structure. Click for News Release (PDF 31k)
29 March 2003: International aspects of Sarbanes-Oxley
In remarks presented at an International Financial Law Review event, SEC Commissioner Paul S. Atkins provided an update on the SEC's implementation of the Sarbanes-Oxley Act. A portion of his Presentation focussed on the international impact of the Act and the SEC's interest in finding 'common ground' between the US and the EU approaches to corporate governance.
29 March 2003: PCAOB roundtable on oversight of non-US accounting firms
The US Public Company Accounting Oversight Board has announced details of its 31 March roundtable on registration and oversight of non-US public accounting firms. The roundtable will be divided into two sessions. The first (2:00-4:00pm) will address the appropriate scope of the Board's oversight of non-US public accounting firms. The second (4:15-5:00pm) will cover registration of non-US public accounting firms. The SEC Commissioners will attend. Confirmed participants include:
- European Commission
- Wirtschaftspruferkammer (German Chamber of Accountants)
- Swiss State Secretariat for Economic Affairs (SECO)
- Department of Trade and Industry (United Kingdom)
- Financial Services Agency (Japan)
- Canadian Public Accountability Board
- Embassy of Australia
- Federation des Experts Comptables (FEE)
- Ernst & Young (Brussels, Belgium)
- PricewaterhouseCoopers (Toronto, Canada)
- Deloitte Touche Tohmatsu (Santiago, Chile)
- Pennsylvania Public Employees' Retirement System
- State of Wisconsin Investment Board
28 March 2003: Proposed EC "transparency" Directive for listed companies
The European Commission has published, and sent to the European Parliament and Council of Ministers, a proposed Directive
that would upgrade the current level and frequency of the mandatory financial information that publicly traded companies must provide to the markets throughout the financial year. Among the proposed requirements:
All securities issuers must publish:
- An audited annual financial report (financial statements based on International Accounting Standards) and a management report, within three months of the end of each financial year.
- A half-yearly condensed financial report based on IAS 34 as well as an update of the last annual management report.
Share issuers must also publish:
- A less extensive quarterly financial report for the first and third quarters of a financial year, including turnover and profit and loss before or after tax.
Companies that issue only debt securities:
- These companies are currently not subject to any interim reporting requirement at all.
- Under the proposal they would be required to issue half-yearly financial reports for the first six months of a financial year.
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All interim information must be published within 60 days after the end of the period. Click to download EC Press Release (PDF 89k) or Full Text of Proposed Directive (PDF 179k).
28 March 2003: List of non-US companies registered with the SEC
We have added to our Statistics Page a list of non-US companies registered with the US SEC (1,344 companies from 59 countries) as of 31 December 2001. You can download the list in PDF Format (PDF 103k). We have also converted it into Excel Spreadsheet Format (XLS 137k).
28 March 2003: Hong Kong GAAP model statements and checklist
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We have posted the Deloitte Touche Tohmatsu model financial statements and presentation and disclosure checklist for 2002 under Hong Kong generally accepted accounting principles. The model financial statements conform to the requirements of Hong Kong Statements of Standard Accounting Practice (SSAPs) and related Interpretations issued by the Hong Kong Society of Accountants, the Companies Ordinance, and the Listing Rules of the Stock Exchange of Hong Kong. They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in the illustrative examples provided with a specific Standard. Nearly all of the Hong Kong SSAPs and Interpretations issued in the past three years are identical to the counterpart International Accounting Standard. Click to download: |
27 March 2003: Revised project name: First-time adoption (not application)
The latest edition of the IASB Update newsletter indicates that the final standard resulting from ED 1 will be called First-Time Adoption of IFRS. ED 1's title was First-Time Application of IFRS. Under ED 1, a first-time adopter would comply with the latest version of each IFRS, with limited exemptions. ED 1 had proposed that some of the exemptions would require the first-time adopter to conclude that compliance with certain IFRSs would involve undue cost or effort. At its March 2003 meeting, the Board agreed that none of the exemptions would require a first-time adopter to demonstrate undue cost or effort. Our notes from the IASB's March 2003 meeting had said that, in the final IFRS, all choices will be free choices. That would not include hedge accounting, derecognition, and estimates. For clarification, we have amended our Project Update and Meeting Summary. The IASB expects to issue a final IFRS in the second quarter of 2003, effective for a company's first IFRS financial statements for a period beginning on or after 1 January 2004. Earlier application would be encouraged.
27 March 2003: SEC proposes to amend rules for CEO and CFO certifications
The SEC has proposed changes to its Rules Requiring Certification of Financial Statements by CEOs and CFOs. These rules apply to both domestic and foreign issuers. The Sarbanes-Oxley Act requires CEOs and CFOs of all public companies to certify in quarterly and annual reports that the report is accurate and complete and that the financial statements fairly present the financial condition and results of operations of the company.
26 March 2003: Notes from insurance-related roundtables on IAS 32 and 39
The IASB held public roundtable discussions about its exposure draft of proposed Amendments to IAS 32 and IAS 39 in Brussels and London from 10 to 14 March 2003. The last two of the nine sessions were dedicated to discussion of issues related to insurance companies. Click to download our Unofficial Summary of the Sessions on Insurance (PDF 27k). We previously had posted an Unofficial Summary of the First Seven Sessions (Non-Insurance Issues) (PDF 52k).
25 March 2003: IASB will meet with national standard setters
The IASB will meet with the chairs of its eight partner national accounting standard setters in London on 24 and 25 April 2003. Agenda topics for the meeting are:
- Convergence: review of progress
- IAS 32 and IAS 39, Financial Instruments – roundtable debriefing
- Insurance: review of progress
- Measurement objectives
- Partnership working arrangements
- Project priorities
- Reporting performance
- Reports on research projects
The IASB will hold its own monthly meeting on 30 April to 2 May 2003. The agenda for that meeting has not yet been announced.
22 March 2003: Agenda for April IFRIC meeting is announced
The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB offices in London on 1 and 2 April 2003. The meeting agenda includes the following issues (click Here for summaries of those issues that IFRIC has previously discussed):
- Changes in decommissioning liabilities
- IAS 19 – multi-employer plan exemption
- Decommissioning and environmental rehabilitation funds
- Rights of use
- Emission rights
- Update on partner and liaison activities
- Non-monetary exchanges of assets
- Exchange rate for remeasuring foreign currency transactions and translation of foreign operations under IAS 21
- IAS 19 – money purchase plan with minimum guarantee
- Hyperinflation and deferred tax
22 March 2003: IASC Foundation's 2002 annual report is available
The IASC Foundation (under which the IASB operates) has published its annual report for 2002. Please click here to Download from IASB website (PDF 1,142k).
22 March 2003: Agenda project pages updated
We have updated our agenda project pages for the following projects to reflect decisions at this week's IASB meeting:
21 March 2003: Australian accounting standards set for major overhaul
We have posted the latest edition of the Deloitte Touche Tohmatsu Australian Accounting Alert (PDF 108k). It explains Australia's planned 'big bang' approach to convergence of Australian GAAP and IFRS. The Australian Accounting Standards Board (AASB) intends to issue 35 new or revised AASB Standards by 31 March 2004. All will be applicable from 1 January 2005. The AASB's revised standards will be equivalent to IFRS "with some possible minor amendments". In July 2002, the Financial Reporting Council (the Australian government agency that oversees the AASB) issued a Bulletin (PDF 14k) announcing its support for adoption by Australia of International Financial Reporting Standards by 1 January 2005. The FRC said that "after that date, audit reports will refer to companies' compliance with IASB standards". The new convergence approach would retain AASB standards rather than replace them with IFRS. We have modified our table on Country Use of IFRS accordingly.
21 March 2003: Notes from roundtables on amendments to IAS 32 and 39
The IASB held public roundtable discussions about its exposure draft of proposed Amendments to IAS 32 and IAS 39 in Brussels and London from 10 to 14 March 2003. A total of 108 respondents to the Exposure Draft participated in the roundtables. There were nine sessions of roundtable discussions, each with a different group of constituents. However, all of the discussions covered similar topic areas and the issues raised in each session generally were similar, with the exception of the last two sessions, which were dedicated to discussion of issues related to insurance companies. Click to download our Unofficial Summary of the 10-13 March Discussions (PDF 52k).
21 March 2003: Notes from the second day of the March 2003 IASB meeting
Click here to go to our combined Observers' Notes from the March 2003 IASB Meeting.
20 March 2003: Details of PCAOB roundtable on registration of foreign audit firms
The PCAOB roundtable meeting on registration and oversight of foreign public accounting firms (see our Story on 17 March below) will take place from 2:00pm to 5:00pm 31 March 2003 in the William O. Douglas Room at SEC headquarters, 450 Fifth Street, N.W., Washington, DC, USA. The meeting will be open to the public and available by webcast. SEC Commissioners will attend. Details at SEC Website.
20 March 2003: Notes from the first day of the March 2003 IASB meeting
Click here to go to our combined Observers' Notes from the March 2003 IASB Meeting.
19 March 2003: Findings of SEC review of Fortune 500 company filings
The US SEC Division of Corporation Finance has published the findings of its Review of Periodic Reports filed with the SEC during 2002 by Fortune 500 Companies (PDF 53k). The report notes deficiencies in a number of accounting areas, including accounting policy disclosures, reporting of non-GAAP financial information, revenue recognition, restructuring charges, impairment charges, pension assumptions, segment reporting, securitisations and off-balance sheet arrangements, and environmental and product liability disclosures. The SEC noted that as a result of these reviews, they have sent comment letters to 350 of the 500 companies.
19 March 2003: We've posted a new Accounting Roundup newsletter
The 16 March 2003 edition of the Accounting Roundup newsletter from Deloitte & Touche (USA) covers, among other topics, FASB's new projects on stock compensation and pensions; FASB EDs on liabilities and equity and on amendment of SFAS 133; summary of significant issues raised during recent reviews of Fortune 500 company filings by the SEC Division of Corporation Finance; and updates on AcSEC, IASB, and PCAOB activities.
18 March 2003: New DTT publication on applying IFRS in the publishing industry
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A new booklet from Deloitte & Touche (UK) – Publishing Industry: The Future of Intangibles under IAS – assesses the impact that changes in IFRS may have on the newspaper and magazine publishing industry over the next few years. While intangibles occur in virtually all industries, the publishing industry is particularly affected because publishing rights and titles form an important element of most publishing companies' financial statements. In some instances they are a highly significant portion of the net asset position (often more than 100 percent). You may Download our Publishing Industry Booklet (PDF 280k) without charge. In recent exposure drafts, the IASB has proposed to draw an accounting distinction between intangibles with finite useful lives and those with indefinite lives, with amortisation plus impairment testing for the former and non-amortisation plus impairment testing for the latter. Revaluation would be permitted for all, but only if fair value can be determined by reference to prices in an active market. Click for a Summary of the IASB Exposure Drafts. |
18 March 2003: IFRS conference in Copenhagen 1 April, 6 May, and 3 June 2003
Deloitte & Touche in Denmark will host a three-day public conference on The Road to IAS/IFRS in Copenhagen on 1 April, 6 May, and 3 June. The conference will address the transition to reporting under IFRS primarily from a strategic point of view. It will also cover financial reporting issues and IT-systems impacts. Click for the Programme (PDF 279k, in Danish). Meet among others John T. Smith, IASB Board Member and co-author of IAS 39 on 6 May 2003. This whole day is devoted to the most complex issue in making the transition to IFRS – financial instruments. The fee for the entire conference is 2,500 DKK excluding VAT per person to cover the direct costs. Register using this Registration Form (PDF 56k, in Danish), or by phoning Marianne Lund at +45 35-25-25-66, or by email at malund@deloitte.dk.
17 March 2003: Roundtable on registration of foreign audit firms with PCAOB
The US Public Company Accounting Oversight Board will convene a roundtable meeting on 31 March 2003 at which interested persons can present their views on the effect and operation of PCAOB registration and oversight of foreign public accounting firms. The PCAOB has published Proposed Registration Rules (PDF 294k) that do not contain an exemption for non-US public accounting firms. PCAOB has identified certain questions to be discussed at the roundtable, including these:
- Should foreign firms be given an extended deadline for their initial registration?
- Are there any portions of PCAOB's draft registration form that are inapplicable, or that should be modified or supplemented, for non-US applicants?
- Do any of the PCAOB's registration requirements conflict with national laws?
- In the case of non-US firms that must register because they play a 'substantial role' in the audit of a US issuer, how should 'substantial role' be defined?
- Should registered foreign public accounting firms be subject to PCAOB inspection, or could the PCAOB, in some cases, rely on home-country regulation in lieu of inspection?
Links to PCAOB's New Website and Our New PCAOB Page.
17 March 2003: Comments on IASCF testing and certification programme
The letters of comment received by the IASC Foundation Trustees on their Proposal for a testing and certification programme have been posted on the IASB website.
15 March 2003: Another Congressional letter to FASB on stock options
A bipartisan group of 15 US Senators – including a former accountant and the Senator who led the Congressional opposition to FASB's proposal to expense stock options in the early 1990s – have Written to FASB (PDF 808k) urging enhanced disclosures, coupled with shareholder approval of all stock option plans, rather than mandatory expensing. They also said that the deliberation process currently underway is "basically flawed".
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Investors need accurate, reliable and meaningful information to make informed investment decisions. Accounting rules should reflect accounting principles that are generally accepted within the accounting profession, especially those that promote the disclosure, transparency, comparability and reliability of financial statements.
We believe a mandatory expensing standard – such as that proposed by the International Accounting Standards Board and apparently which is under consideration by the FASB – may not meet these important tests.... A mandatory expensing standard will not give investors accurate or reliable information – instead, they will get exactly the opposite.
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See also our earlier news story of 19 February 2003.
15 March 2003: Canadian and German boards support expensing stock options
In their letters of comment on IASB ED 2, Share-Based Payment, both the Canadian and German accounting standards boards expressed support for expensing stock options and for measuring them at the fair value of the options granted.
14 March 2003: IFAC's 2003 Handbook is published
IFAC has released the 2003 edition of its Handbook of International Auditing, Assurance, and Ethics Pronouncements, containing all pronouncements issued as of 31 December 2002. The Handbook includes International Standards on Auditing (ISAs), developed by the International Auditing and Assurance Standards Board (IAASB), and IFAC's Code of Ethics for Professional Accountants. A print version (includes CD ROM) may be purchased from IFAC. Alternatively, the handbook, and all pronouncements contained in it (and future updates), may be accessed free of charge by going to the IFAC Store.
14 March 2003: Deloitte Touche Tohmatsu comment letter on ED 2
We have posted our Comment Letter on IASB ED 2, Share-Based Payment (PDF 230k). Our comments expressed the following principal conclusions:
Deloitte Touche Tohmatsu Principal Conclusions on Share-Based Payments
- Share-based payments should be measured and recognised at fair value. Share-based payments to employees represent an element of compensation. The most relevant measurement of that compensation is fair value.
- Share-based payments should be expensed over the period that the related service is provided.
- Share-based payments should be measured at grant date, being the date the parties are committed to the transaction.
- No adjustment should be made to fair value for vesting conditions.
- Expensing should stop if the employee leaves and consequently stops providing services.
- Minimum value should be used for unlisted entities.
- For transactions involving the exchange of goods directly for equity, a measurement date does not occur until the exchange actually occurs (not at an earlier agreement date).
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13 March 2003: FASB adds employee stock options to its agenda
Noting that "a move to require an expense treatment would be consistent with the FASB's commitment to work toward convergence between US and international accounting standards", the US Financial Accounting Standards Board has added to its agenda a project on employee stock options. Click for FASB News Release.
13 March 2003: Overgang til de internationale regnskabsstandarder
Deloitte & Touche in Denmark has developed a 28-page publication on Transition to IAS/IFRS (PDF 848k, in Danish, A5 format). The booklet is written mainly for top management – the members of the supervisory boards and the executive boards of entities listed on the Copenhagen Stock Exchange and other large Danish entities. Of course, other Danish readers can get a quick overview of the process of transition to IAS by reading it. The booklet highlights areas of focus that are likely to require most resources for Danish entities.
12 March 2003: Adoption of amended EU accounting directives expected this month
We have posted a Progress Report (PDF 48k) on the EU's Financial Services Action Plan as of 25 February 2003. The report notes that 32 measures have been completed, including Regulation (EC)1606/2002 of the European Parliament and of the Council on the Application of International Accounting Standards, adopted on 19 July 2002. The report also notes that a revised Directive modernising the accounting provisions of the 4th and 7th Company Law Directives is "expected to be adopted in March 2003." (click for More Information). For a comprehensive chronology of progress toward IFRS in the European Union, please Click Here.
12 March 2003: EFRAG comment letter on ED 2
We have posted the comment letter of the European Financial Reporting Advisory Group to the IASB on ED 2, Share-Based Payment (PDF 122k). Overall, EFRAG supports the recognition of an expense when goods or services received or acquired in a share-based payment transaction are consumed.
11 March 2003: European IFRS regulation will apply to three EEA non-EU countries
The European Economic Area (EEA) was created effective 1994 by an agreement between the EU and three countries -- Iceland, Liechtenstein, and Norway. The three countries participate in the EU Single Market, while not assuming the full responsibilities of membership of the EU. As such, they must comply with the Accounting Directives and Regulations. We have updated our Table of Use of IFRS to indicate that companies from those countries that are listed in European markets must adopt IFRS starting in 2005, along with EU member countries. There are approximately 60 listed Icelandic companies and 200 listed Norwegian companies.
10 March 2003: FRB Chairman Alan Greenspan comments on IFRS
In Remarks titled Global Finance: Is It Slowing? delivered via satellite to a symposium in Paris, US Federal Reserve Board Chairman Alan Greenspan said improved international accounting and disclosure standards are needed to make cross-border investing more equitable:
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As international accounting and reporting standards become better, information asymmetries that currently exist between foreign and domestic investors will diminish. Adequate disclosure will, one hopes, accompany the development of institutions that will reduce corruption, and improve corporate governance, respect for private property and the rights of minority shareholders....
We must remember that as financial globalisation matures it will have consequences to economies that we cannot ignore. Global capital flows will increase in size and will switch directions more easily. As a result, temporary imbalances will naturally occur from time to time. To counter these, we need to consider various multilateral policy initiatives, from international accounting standards to international capital requirements for banks, from a "New Financial Architecture" to crisis prevention and resolution mechanisms. Also, market participants will need to enhance their ability to manage vast quantities of collateral that are integral to globalised modern finance. Our goals should include not only global financial stability, but also the promotion of free flowing capital directed to its most productive uses throughout the world. That goal will bring about greater financial stability and a more prosperous future for all who choose to participate in the global economy.
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10 March 2003: Deloitte & Touche Audit Committee Resource Guide
The Sarbanes-Oxley Act, related SEC rule-making, and the proposed modifications of the NYSE, NASDAQ, and AMEX listing standards expand, codify, and formalise the composition, duties, and responsibilities of the audit committees of public companies. Audit committee members are in the process of implementing the new requirements to fulfill investor expectations and protect shareholder interests. They are also seeking resources and tools to assist in executing their new responsibilities effectively and efficiently. Deloitte & Touche is committed to helping audit committee members and management remain apprised of emerging requirements and trends. With that objective, we have published The Audit Committee Resource Guide. It presents a history and overview of the new requirements and, more importantly, emerging best practices and specific steps for consideration. The Audit Committee Resource Guide also includes a compilation of resources and tools developed by Deloitte & Touche and other professional service organisations and trade groups that we believe will be useful in helping audit committees comply with the new requirements. [Note: This publication has gone out of date and has been removed from IAS Plus.]
9 March 2003: FASB chairman tells US Congress about convergence progress
In Testimony (PDF 108k) on 4 March 2003 before a committee of the US House of Representatives, FASB Chairman Robert H. Herz reported on progress toward convergence of US GAAP and IFRS:
In October 2002, we reached a historic agreement with the IASB to use our best-efforts to align our agendas and, very importantly, to undertake a specific project (with the help and support of the SEC staff) aimed at accelerating the convergence process by trying to eliminate or narrow some of the areas of difference between current US and international standards. Because there are literally hundreds of differences between US and international standards, realistically, this effort will still be ongoing, well beyond 2005 when Europe adopts international standards en masse. But we need to set this process in motion now, so that we can achieve greater progress in this important area going forward. The overall objective of international convergence is not convergence just for the sake of convergence, but rather to arrive at high-quality accounting solutions that improve the transparency of financial reporting in the US and abroad.
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8 March 2003: Both US and foreign audit firms must register with PCAOB
The new US Public Company Accounting Oversight Board (PCAOB) has voted unanimously (4-0) to issue proposed rules that would require both US and foreign auditing firms to register with the Board if they perform audits of companies registered with the SEC. Comments are due by 31 March 2003. The rules are consistent with Section 102 of the Sarbanes-Oxley Act, which requires that all auditors of public companies must register with the PCAOB, identify public audit clients, identify all accountants associated with those clients, list fees earned for audit and non-audit services, explain their audit quality control procedures, and identify all criminal, civil, administrative, and disciplinary proceedings against the firm or any of its associated persons in connection with an audit. The Act also requires the PCAOB to inspect all CPA firms that audit public companies to assess compliance
with the law, SEC regulations, rules established by the PCAOB, and professional standards. Following consideration of the comments on its proposed rules, the PCAOB will adopt final rules that also must be approved by the Securities and Exchange Commission. Click for More Info from PCAOB Website.
8 March 2003: "IAS Ydinkohdat" – IAS In Your Pocket in Finnish
Deloitte & Touche (Finland) have published "IAS Ydinkohdat", the Finnish version of our popular booklet, IAS In Your Pocket. This 96-page booklet contains background information about the IASB and IFRS, and summaries of all of the standards with information about possible changes to those standards resulting from current IASB projects. Click here to Download a Copy (PDF 635k).
7 March 2003: IAASB publishes its first annual report
The International Auditing and Assurance Standards Board (IAASB) has published its first annual report. The IAASB was officially formed in March 2002, to replace the former International Auditing Practices Committee. It operates independently under the auspices of IFAC. The IAASB's new report summarises its standard-setting and other activities during 2002 and outlines the Board's initiatives for 2003. Click to Download (PDF 415k).
7 March 2003: IFAC publishes case studies on the "quality of earnings"
The Financial and Management Accounting Committee of IFAC has issued a new publication designed to educate management, accountants, and other business decision makers about a wide range of issues that impact the quality of earnings. The Quality of Earnings Case Study Collection includes more than a dozen articles addressing a wide range of issues such as capital market expectations and valuations, estimates/methods, revenue recognition, business combinations, and working capital management. The study can be downloaded without charge from IFAC's IFAC's On-Line Store.
7 March 2003: IASB's public roundtables on IAS 32 and IAS 39 begin Monday
Representatives of 108 firms and organisations will participate in five days of roundtable discussions with the IASB on proposed amendments to the existing International Accounting Standards on financial instruments. The proposals would require or permit greater use of fair values in measuring financial assets and financial liabilities, plus enhanced disclosures. The current standards are IAS 32, Financial Instruments: Disclosure and Presentation, and IAS 39, Financial Instruments: Recognition and Measurement. The largest concentrations of respondents to the IASB's Proposed Changes come from the banking and insurance sectors. The roundtable discussions will take place on 10 and 11 March in Brussels and on 12, 13, and 14 March in London. A list of the participants, with links to their comment letters to IASB, can be found on IASB's website.
7 March 2003: IFRS translation into Dutch is published
A translation of IFRS into Dutch has been completed and is available for purchase. It is one of a number of translations that are being done in preparation for the implementation of International Financial Reporting Standards in the European Union from 1 January 2005.
6 March 2003: US SEC invites nominees for Chairperson of the PCAOB
The US Securities and Exchange Commission has announced the selection criteria and has Invited Nominations for the Chairperson of the new Public Company Accounting Oversight Board. Nominations are due 14 March 2003.
5 March 2003: Changed dates for IASB's March 2003 meeting
The dates for the IASB's meeting later this month have been changed to Wednesday and Thursday, 19 and 20 March. The agenda for the meeting, which will be held at the Board's office in London, includes:
4 March 2003: New Accounting Roundup newsletter is posted
We have posted the 3 March 2003 edition of Accounting Roundup, a newsletter published by Deloitte & Touche (USA). Among the topics covered in this issue are FASB and AICPA exposure drafts on real estate accounting issues; GASB exposure drafts on post-employment benefits; a summary of the IASB's February meeting; and recent D&T publications and IAS guidance materials.
1 March 2003: Reminder: ED2 comment deadline is next Friday
The IASB's deadline for receiving comments on ED 2, Share-Based Payment, is this coming Friday, 7 March 2003.
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