News and information about international financial reporting http://www.iasplus.com en-gb Deloitte's IFRS Global Office has published two IAS Plus Update newsletters - one discussing the IASB's proposed amendments to IFRIC 14 and the other on the IASB's discussion paper on the role of an entity's own credit risk in liability measurement. http://www.iasplus.com/iasplus/iasplus.htm Thu, 02 Jul 2009 11:50:00 +0800 2009-036 The Deloitte meeting notes for the IASB's June 2009 meeting are posted. http://www.iasplus.com/agenda/0906.htm Mon, 06 May 2009 12:27:00 +0800 2009-035 The IASB has issued amendments to IFRS 2 Share-based Payment that clarify the accounting for group cash-settled share-based payment transactions. The amendments also withdraw IFRICs 8 and 11. http://www.iasplus.com/standard/ifrs02.htm#amend0906 Fri, 19 Jun 2009 11:18:00 +0800 2009-034 The IASB has published an exposure draft of proposed guidance on how fair value should be measured where it is required by existing standards. http://www.iasplus.com/agenda/fairvalue.htm#ed Mon, 22 Jun 2009 14:05:00 +0800 2009-033 The Deloitte meeting notes for the IASB's special meeting on 5 May 2009 are now available. http://www.iasplus.com/agenda/0905a.htm Wed, 06 May 2009 12:27:00 +0800 2009-032 Deloitte's IFRS Global Office has published an IAS Plus Update newsletter discussing the IASB's exposure draft Income Tax published on 31 March 2009. http://www.iasplus.com/iasplus/iasplus.htm Wed, 06 May 2009 12:26:00 +0800 2009-031 Amaro Luiz de Oliveira Gomes, Head of Financial System Regulation Department of Central Bank of Brazil, has been appointed to a 5-year term as a member of the IASB starting 1 July 2009. http://www.iasplus.com/index.htm Thu, 30 Apr 2009 15:41:00 +0000 2009-030 The complete Deloitte meeting notes for the IASB's April 2009 Board meeting are now available. http://www.iasplus.com/agenda/0904.htm Fri, 24 Apr 2009 14:35:00 +0000 2009-029 Deloitte's IFRS Global Office has published two IAS Plus Update newsletters -- one on the IASB's derecogntion ED and the other on the joint IASB-FASB discussion paper on lease accounting. http://www.iasplus.com/iasplus/iasplus.htm Sun, 19 Apr 2009 14:52:00 +0800 2009-028 The IASB has issued improvements to 12 IFRSs, with most effective 1 January 2010 but a few are 1 July 2009. http://www.iasplus.com/agenda/annualimprovements2008.htm#0904improvements Thu, 16 Apr 2009 16:15:00 +0800 2009-027 New IAS Plus Update Newsletter examining the implications for IFRSs of the recent recommendations of the G20 leaders on reforming the regulation of the global financial sector. http://www.iasplus.com/iasplus/iasplus.htm Wed, 15 Apr 2009 20:30:00 +0800 2009-026 The exposure draft proposes to replace IAS 12 with a new standard that would retain the temporary difference approach. http://www.iasplus.com/agenda/converge-ias12.htm#ed Wed, 01 Apr 2009 15:35:00 +0800 2009-025 The proposals would change the IAS 39 principles for removing financial assets and liabilities from an entity's balance sheet and the IFRS 7 requirements for disclosing information about derecognitions. http://www.iasplus.com/agenda/derecog.htm#ed Tue, 31 Mar 2009 15:35:00 +0800 2009-024 New from Deloitte: 76-page interim reporting guide and an IAS 34 checklist formatted to allow the recording of a review of interim financial statements. http://www.iasplus.com/dttpubs/pubs.htm#mar2009 Mon, 30 Mar 2009 08:05:00 +0800 2009-023 The IASB has published a request for views on proposals from the US Financial Accounting Standards Board that deal with guidance on fair value measurement and impairments of financial instruments. http://www.iasplus.com/index.htm Sat, 21 Mar 2009 10:55:00 +0800 2009-022 The IASB and the US FASB have published a joint discussion paper proposing a new model for accounting for leases. http://www.iasplus.com/agenda/leases.htm#0903dp Thu, 19 Mar 2009 15:10:00 +0000 2009-021 The Financial Accounting Foundation and the FASB have asked the SEC to hold off on allowing US companies to use IFRSs and have questioned whether, at this point, IFRSs are 'high quality, sufficiently comprehensive, and workable for the U.S. environment'. http://www.iasplus.com/restruct/restfasb.htm#roadmapresponse Sat, 14 Mar 2009 08:47:00 +0000 2009-020 We have posted newsletters on (1) IFRS 7 Amended to Improve Disclosures about Financial Instruments and (2) Clarification Regarding Assessment of Embedded Derivatives (IFRIC 9 and IAS 39). http://www.iasplus.com/iasplus/iasplus.htm Sat, 14 Mar 2009 08:46:00 +0000 2009-019 The IASB has amended IFRIC 9 and IAS 39 to require reassessment of embedded derivatives in any financial asset that is reclassified out of the 'fair value through profit or loss' category. http://www.iasplus.com/index.htm Thu, 12 Mar 2009 12:07:00 +0000 2009-018 The IASB has published its 2009 bound volume of IFRSs - 2,855 pages, in printed and electronic formats. http://buy.iasb.org/timssecommerce/timssnet/common/tnt_frontpage.cfm Wed, 11 Mar 2009 15:51:00 +0800 2009-017 The notes taken by Deloitte observers at the March 2009 IFRIC meeting are now available. http://www.iasplus.com/pastnews/2009mar.htm#ifric Mon, 09 Mar 2009 13:31:00 +0800 2009-016 The IASB has amended IFRS 7 to expand the fair value disclosures (including a SFAS 157-like hierarchy) and amend the liquidity risk disclosure requirements, effective for annual periods beginning 1 January 2009. http://www.iasplus.com/standard/ifrs07.htm#2009amendment Thu, 05 Mar 2009 05:55:00 +0800 2009-015 The European Commission has proposed to exempt very small companies from the Accounting Directives and also to provide substantial funding to IASB/IASCF, EFRAG, PIOB, CEBS, CESR, and CEIOPS. http://www.iasplus.com/restruct/euro2009.htm#feb2009 Thu, 26 Feb 2009 09:15:00 +0800 2009-014 The complete Deloitte meeting notes for the IASB's February 2009 Board meeting are now available. http://www.iasplus.com/agenda/0902.htm Sat, 21 Feb 2009 09:15:00 +0000 2009-013 We have posted our new IAS Plus Newsletter about IFRIC 18: Guidance Issued on Accounting for Transfers of Assets from Customers. http://www.iasplus.com/iasplus/iasplus.htm Tue, 17 Feb 2009 11:44:00 +00:00 2009-012 Comments invited on a proposal that also includes potential 'carve-outs' from IFRSs. http://www.iasplus.com/country/japan.htm#0902 Tue, 17 Feb 2009 11:39:00 +0000 2009-011 Deloitte has released illustrative 2008 IFRS financial statements for an insurance group, reflecting all IFRSs effective for years beginning on or after 1 January 2008. http://www.iasplus.com/fs/fs.htm Wed, 11 Feb 2009 20:38:00 +0800 2009-010 The IASB has issued an exposure draft of proposed amendments to IFRIC 9 Reassessment of Embedded Derivatives and IFRIC 16 Hedges of a Net Investment in a Foreign Operation. http://www.iasplus.com/agenda/ifric9and16.htm Sat, 31 Jan 2009 10:46:00 +0800 2009-009 The IASC Foundation Trustees have announced important amendments to the IASCF Constitution effective 1 February 2009, including formation of a Monitoring Board and expansion of the IASB from 14 to 16 members. http://www.iasplus.com/iascf/constreview2008.htm#mb Fri, 30 Jan 2009 15:38:00 +0800 2009-008 Stephen Cooper's status has been changed from a part-time to full-time member of the IASB. Jan Engstrom has been reappointed to serve a second five-year term as a Board member. http://www.iasplus.com/index.htm Fri, 30 Jan 2009 14:18:00 +0800 2009-007 The International Financial Reporting Interpretations Committee has issued IFRIC Interpretation 18 Transfers of Assets from Customers. http://www.iasplus.com/interps/ifric018.htm Fri, 30 Jan 2009 14:14:00 +0800 2009-006 The complete Deloitte meeting notes for the IASB's January 2009 Board meeting are now available. http://www.iasplus.com/agenda/0901.htm Fri, 30 Jan 2009 14:12:00 +0800 2009-005 Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter explaining the IASB's proposals to amend IAS 39 and IFRIC 9 to clarify that reclassifications of financial assets under the October 2008 amendments to IAS 39 trigger a (re)assessment for embedded derivatives. http://www.iasplus.com/iasplus/iasplus.htm Fri, 09 Jan 2009 12:04:00 +0800 2009-004 Deloitte's IFRS Global Office has published 'Turbulent Times: Key Accounting Considerations in Today's Volatile Markets' -- available without charge on IAS Plus. http://www.iasplus.com/dttpubs/pubs.htm Thu, 08 Jan 2009 15:11:00 +0800 2009-003 Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter explaining the IASB's proposals to amend IFRS 7 to provide additional disclosures on all investments in debt instruments. http://www.iasplus.com/iasplus/iasplus.htm Thu, 08 Jan 2009 15:11:00 +0800 2009-002 The IASB has proposed to amend IFRS 7 Financial Instruments: Disclosures to add disclosures on investments in debt instruments; comments due 15 January 2009. Also, the IASB has proposed to amend IAS 39 Financial Instruments: Recognition and Measurement to clarify the accounting treatment for embedded derivatives; comments due 21 January 2009. http://www.iasplus.com/pastnews/2008dec.htm Wed, 07 Jan 2009 07:55:00 +0800 2009-001 The Deloitte meeting notes for the IASB's December 2008 Board meeting are now available. http://www.iasplus.com/agenda/0812.htm Sat, 20 Dec 2008 10:10:00 +0800 2008-071 The IASB has proposed to amend the definition of 'control' in IAS 27. Net result will be more entities will be consolidated rather than 'off-balance sheet'. http://www.iasplus.com/index.htm Fri, 19 Dec 2008 20:06:00 +0800 2008-070 At its December 2008 meeting, the IASB plans to change the effective date of the restructured version of IFRS 1 ( issued 25 November 2008) from 1 January 2009 to 1 July 2009. http://www.iasplus.com/index.htm Sun, 14 Dec 2008 16:46:00 +0800 2008-069 The IASB has published a revised exposure draft proposing to amend IAS 24 Related Party Disclosures with to reduce disclosures of transactions among state-owned entities and relationships with the state. http://www.iasplus.com/index.htm Thu, 11 Dec 2008 11:56:00 +0800 2008-068 We have posted our IFRS Compliance Questionnaire for 2008. It is a checklist for compliance with the recognition and measurement requirements in IFRSs issued on or before 31 October 2008. http://www.iasplus.com/fs/fs.htm Wed, 10 Dec 2008 14:46:00 +0800 2008-067 Deloitte's IFRS Global Office has published our IFRS Presentation and Disclosure Checklist for 2008. http://www.iasplus.com/fs/fs.htm Mon, 08 Dec 2008 20:56:00 +0800 2008-066 Deloitte's IFRS Global Office has published a special edition of our IAS Plus Newsletter explaining the recent revisions to IFRS 1 'First-time Adoption of IFRSs'. http://www.iasplus.com/iasplus/iasplus.htm Mon, 08 Dec 2008 20:54:00 +0800 2008-065 IASC Foundation has issued a discussion paper inviting comments on the second part of the five-yearly review of the IASCF Constitution. http://www.iasplus.com/index.htm Mon, 08 Dec 2008 20:50:00 +0800 2008-064 Deloitte's IFRS Global Office has published a special edition of our IAS Plus Newsletter 'IFRIC 17: New Interpretation on Non-cash Distributions'. http://www.iasplus.com/iasplus/iasplus.htm Tue, 02 Dec 2008 08:55:00 +0800 2008-063 The International Financial Reporting Interpretations Committee has issued IFRIC 17 Distributions of Non-cash Assets to Owners. http://www.iasplus.com/index.htm Thu, 27 Nov 2008 09:48:00 +0800 2008-062 The Deloitte meeting notes for the IASB's November 2008 Board meeting are now available. http://www.iasplus.com/agenda/0811.htm Tue, 25 Nov 2008 12:40:00 +0800 2008-061 The report of the meeting of the G20 Heads of State includes a number of recommendations relating to the IASB and international accounting standards. Excerpts and full text on IAS Plus. http://www.iasplus.com/index.htm Sat, 15 Nov 2008 21:10:00 +0000 2008-060 The IASCF Trustees have sent a letter to participants at the upcoming G20 Meeting informing them of the role that the IASB is playing in addressing issues emanating from the credit crisis, and outlining steps being taken to enhance the public accountability of the IASCF. http://www.iasplus.com/index.htm Wed, 12 Nov 2008 19:46:00 +0000 2008-059 Deloitte's IFRS Global Office has published a special edition of our IAS Plus Newsletter explaining the joint IASB-FASB discussion paper on Financial Statement Presentation. http://www.iasplus.com/iasplus/iasplus.htm Wed, 12 Nov 2008 19:49:00 +0000 2008-058 The IASB and the US FASB will hold the first of three public roundtable discussions to identify financial reporting issues highlighted by the global financial crisis in London on 14 November 2008. http://www.iasplus.com/iasplus/iasplus.htm Tue, 4 Nov 2008 15:49:00 +0800 2008-057 Deloitte has published a special edition of our IAS Plus Newsletter explaining the IASB's Proposals to Improve Disclosures about Financial Instruments (IFRS 7). http://www.iasplus.com/iasplus/iasplus.htm Sun, 2 Nov 2008 09:29:00 +0800 2008-056 IASB has published two FV guidance documents: a summary document prepared by IASB staff and the final report of the expert advisory panel established to consider the issue. http://www.iasplus.com/index.htm Sat, 1 Nov 2008 23:56:00 +0800 2008-055 Notes from the joint IASB-FASB meeting on 20-21 October are now available. http://www.iasplus.com/agenda/0810.htm#joint Fri, 24 Oct 2008 21:56:00 +0800 2008-054 The IASB has published a discussion paper on financial statement presentation. http://www.iasplus.com/agenda/perform2.htm#dp Mon, 20 Oct 2008 01:26:00 +0800 2008-053 The Deloitte meeting notes for the IASB's October 2008 Board meeting are now available. http://www.iasplus.com/agenda/0810.htm Mon, 20 Oct 2008 01:25:00 +0800 2008-052 The IASB has amended IAS 39 to permit reclassification of some financial instruments out of the fair-value-through-profit-or-loss category and out of the available-for-sale category 'in rare circumstances'. The amendments are effective 1 July 2008. http://www.iasplus.com/index.htm Tue, 14 Oct 2008 10:44:00 +0100 2008-051 Deloitte newsletter on proposals to revise the definition of discontinued operations and require additional disclosure about disposals and assets held for sale. http://www.iasplus.com/index.htm Mon, 13 Oct 2008 13:57:00 +0100 2008-050 Deloitte newsletter on IASB proposals to add exemptions to IFRS 1 for (a) certain oil and gas assets and (b) certain leasing contracts. http://www.iasplus.com/index.htm Mon, 13 Oct 2008 13:57:00 +0100 2008-050 The IASB has announced the current status of its response to the credit crisis and four steps that it expects to take in the short term. http://www.iasplus.com/index.htm Sun, 5 Oct 2008 19:17:00 +0100 2008-049 The Deloitte meeting notes for the special meeting of the IASB on 2 October 2008 are now available. http://www.iasplus.com/agenda/0810special.htm Sun, 5 Oct 2008 19:15:00 +0100 2008-048 The IASB has proposed to amend IFRS 1 to provide two additional exemptions from retrospective restatement for first-time adopters of IFRSs. http://www.iasplus.com/index.htm Thu, 25 Sep 2008 18:08:00 +0800 2008-047 The IASB has proposed to amend IFRS 5 to revise the definition of discontinued operations and require additional disclosure about components of an entity that have been disposed of or are classified as held for sale. http://www.iasplus.com/index.htm Thu, 25 Sep 2008 10:37:00 +0800 2008-046 The Trustees of the IASC Foundation have appointed Prabhakar Kalavacherla ('PK') as a full-time member of the IASB effective 1 January 2009 for a term ending on 30 June 2013. http://www.iasplus.com/index.htm Thu, 25 Sep 2008 08:52:00 +0800 2008-045 The meeting notes for all four days of the Sept 2008 IASB meeting are now available. http://www.iasplus.com/agenda/0809.htm Tue, 21 Sep 2008 08:40:00 +0100 2008-044 The IASB has invited comment on the draft report of its expert advisory panel on valuing financial instruments when markets are no longer active. The report explores the practices that the experts use for measuring and disclosing such financial instruments. http://www.iasplus.com/index.htm Tue, 17 Sep 2008 12:24:00 +0100 2008-043 The updated MoU reports on the progress and sets goals for completing their major joint projects by 2011. http://www.iasplus.com/index.htm Tue, 17 Sep 2008 12:23:00 +0100 2008-042 On Wedneday 27 August 2008, the US SEC proposed a roadmap to IFRS adoption in the United States. Some registrants could start using IFRSs as early as 2009. FEI and AICPA have expressed support. http://www.iasplus.com/index.htm Fri, 29 Aug 2008 12:10:00 +0800 2008-041 On Wedneday 27 August 2008, the US SEC will consider whether to invite public comment on a 'Roadmap' by which the US registrants might be allowed to use IFRSs in their SEC filings instead of US GAAP. http://www.iasplus.com/index.htm Mon, 25 Aug 2008 20:13:00 +0800 2008-040 Deloitte has published a special edition IAS Plus newsletter on the IASB's exposure draft of proposed amendments to IAS 33 Earnings Per Share. http://www.iasplus.com/iasplus/iasplus.htm Fri, 22 Aug 2008 18:15:00 +1000 2008-039 Deloitte has published a special edition IAS Plus newsletter on the IASB's omnibus exposure draft of annual improvements for 2008. http://www.iasplus.com/iasplus/iasplus.htm Sat, 16 Aug 2008 06:45:00 +0800 2008-038 The CRMPG-III, representing money-centre banks, has issued a report recommending reconsideration of the standards for consolidation of entities currently off-balance sheet coming on-balance sheet and consistency of US GAAP and IFRSs http://www.iasplus.com/crunch/creditcrunch.htm#0808crmpg Wed, 13 Aug 2008 07:55:00 +0800 2008-037 The EDs are (1) Simplifying Earnings per Share (comments due 5 Dec 2008) and (2) Proposed Improvements to IFRSs (comments due 7 Nov 2008). http://www.iasplus.com/index.htm Fri, 8 Aug 2008 10:00:00 +0800 2008-036 Deloitte has published special edition IAS Plus newsletters on the IASB's recent (1) discussion paper on reporting entity and (2) exposure draft on objective and qualitative characteristics. http://www.iasplus.com/iasplus/iasplus.htm Sat, 2 Aug 2008 14:30:00 -0600 2008-035 The IASB has published amendments to IAS 39 Financial Instruments: Recognition and Measurement to clarify two hedge accounting issues: (1) inflation in a financial hedged item and (2) a one-sided risk in a hedged item. http://www.iasplus.com/standard/ias39.htm#eligible Sat, 2 Aug 2008 14::22:00 -0600 2008-034 We have posted the preliminary and unofficial notes taken by Deloitte observers at the July 2008 IASB meeting. http://www.iasplus.com/agenda/0807.htm Fri, 25 Jul 2008 21:00:00 +0800 2008-033 IASB will meet with companies that use IFRSs at a Global Preparers Forum on Monday 28 July 2008 from 10:00am to 16:30pm at the Board's offices in London. http://www.iasplus.com/index.htm Wed, 23 Jul 2008 07:45:00 +0100 2008-032 The proposals address two issues: a new Monitoring Group for the IASCF and the size and geographical composition of the IASB. Comments due 20 Sept 2008. http://www.iasplus.com/index.htm Mon, 21 Jul 2008 05:35:00 +0100 2008-031 We have posted the Deloitte notes from the 10-11 July 2008 IFRIC meeting. http://www.iasplus.com/pastnews/2008jul.htm#ifric Tue, 15 Jul 2008 21:05:00 +0800 2008-030 Deloitte has published IAS Plus 'special edition' newsletters with details about IFRIC 15 Agreements for the Construction of Real Estate, and IFRIC 16 Hedges of a Net Investment in a Foreign Operation. http://www.iasplus.com/iasplus/iasplus.htm Mon, 7 Jul 2008 07:55:00 +0800 2008-029 Two new Interpretations: IFRIC 15 Agreements for the Construction of Real Estate, and IFRIC 16 Hedges of a Net Investment in a Foreign Operation. http://www.iasplus.com Thu, 3 Jul 2008 22:11:00 +0800 2008-028