http://www.iasplus.com These are the search results for the query, showing results 1 to 50. http://www.iasplus.com/en/othernews/ifac/2013/governance-ed?id=en:rss:direct The International Federation of Accountants (IFAC) and the Chartered Institute of Public Finance and Accountancy (CIPFA) have issued a Consultation Draft of an international framework on governance in the public sector. The aim of framework is to promote the development of robust governance by establishing a benchmark for good governance in the public sector around seven fundamental principles, which include good practices in transparency and reporting to achieve accountability. 2013-06-20T05:15:00Z 2013-06-20T05:15:00Z News Item http://www.iasplus.com/en/news/2013/06/iasb-insurance-ed?id=en:rss:direct The International Accounting Standards Board (IASB) has issued a revised exposure draft (ED) on insurance contracts. The ED does not contain a proposed effective date as the IASB will decide on the effective date only upon completion of its redeliberations. The expectation is currently that the standard will become effective approximately three years after being published in its finalised form. The revised ED seeks constituent comment on five key areas. Comments on the ED close on 25 October 2013. 2013-06-20T00:00:00Z 2013-06-20T00:00:00Z News Item http://www.iasplus.com/en/news/2013/06/iasb-meeting-1?id=en:rss:direct The IASB's meeting was held in London on 18-19 June 2013, some of it a joint meeting with the FASB. We have posted Deloitte observer notes from Tuesday's joint session on classification and measurement. 2013-06-19T18:25:00Z 2013-06-19T18:25:00Z News Item http://www.iasplus.com/en/news/2013/06/g8?id=en:rss:direct Meeting in Lough Erne in Northern Ireland on 17-18 June 2013, the Group of Eight (G8) finance ministers discussed the themes of 'Tax, Trade and Transparency' and agreed to make sure the world’s poorest people benefit from the natural resources of their various countries by improving the transparency of their extractive industries and land rights. 2013-06-19T10:25:00Z 2013-06-19T10:25:00Z News Item http://www.iasplus.com/en/news/2013/06/one-size-does-not-fit-all?id=en:rss:direct On 13 June, the Accounting Standards Committee of Germany (ASCG) celebrated its 15th anniversary. It did so with a symposium entitled ‘National standard-setting in the national, European and international context’ which saw a presentation by Prof. Dr. Christian Leuz of the University of Chicago Booth School of Business, followed by a round of questions and answers and a panel discussion with IASB chairman Hans Hoogervorst and the chairmen of the national standard-setters of France, Italy and the United Kingdom: Jérôme Haas, Angelo Casò and Roger Marshall. The discussion was moderated by the president of the ASCG, Dr. Liesel Knorr. 2013-06-18T11:50:00Z 2013-06-18T11:50:00Z News Item http://www.iasplus.com/en/news/2013/06/telco-revenue-survey?id=en:rss:direct A survey of telecommunications operators has shown a wide variation of readiness for the forthcoming standard on revenue, and revealed a number of concerns in relation to its adoption. 2013-06-18T02:05:00Z 2013-06-18T02:05:00Z News Item http://www.iasplus.com/en/news/2013/06/efrag-field-test-results-ifrs-9?id=en:rss:direct The European Financial Reporting Group (EFRAG) has issued a report containing the results of the field test conducted by the EFRAG and National Standard Setters (NSS) ANC, ASCG, FRC and the OIC, on how the new requirements in IFRS 9, as amended by Exposure Draft (ED) ‘Classification and Measurement: Limited Amendments to IFRS 9’, would affect the current classification and measurement of financial assets. 2013-06-17T20:45:00Z 2013-06-17T20:45:00Z News Item http://www.iasplus.com/en/othernews/efrag/esma-annual-report-2012?id=en:rss:direct The European Securities and Markets Authority (ESMA) has published its Annual Report for 2012. 2013-06-14T12:50:00Z 2013-06-14T12:50:00Z News Item http://www.iasplus.com/en/othernews/efrag-1/efrag-2012-annual-review?id=en:rss:direct The European Financial Reporting Advisory Group (EFRAG) has released its 2012 Annual Review. 2013-06-14T10:35:00Z 2013-06-14T10:35:00Z News Item http://www.iasplus.com/en/news/2013/06/bac?id=en:rss:direct Japan’s Business Accounting Council (BAC) met on 12 June 2013 to continue its deliberations about the use of International Financial Reporting Standards (IFRSs) in Japan. Although it was previously suggested that this meeting would be the final one to conclude this round of debates, the BAC continued discussions around further details of three specific initiatives to further promote use of IFRSs in Japan. As such, no decisions as to its report were made during the meeting. 2013-06-13T11:10:00Z 2013-06-13T11:10:00Z News Item http://www.iasplus.com/en/news/2013/06/eu-accounting-transparency-directives?id=en:rss:direct The European Parliament has voted to approve the new Accounting and Transparency Directives. The reform of these Directives was predominently aimed at reducing the administrative burden on small companies, enhancing the transparency of payments to governments by the extractive industry and loggers of primary forest, and creating a mandatory country-by-country reporting requirement. 2013-06-13T09:50:00Z 2013-06-13T09:50:00Z News Item http://www.iasplus.com/en/othernews/united-kingdom/2013/bis-narrative-reporting-regulations?id=en:rss:direct The long-awaited narrative reporting regulations issued by the United Kingdom Department for Business, Innovation and Skills (BIS) have now been finalised and laid before the UK parliament for approval. The regulations are the UK government’s response to a project that began in 2010 and are intended to make narrative reporting simpler, clearer and more focussed. 2013-06-13T01:00:00Z 2013-06-13T01:00:00Z News Item http://www.iasplus.com/en/news/2013/06/ifrs-ac-meeting?id=en:rss:direct The IFRS Advisory Council met in London on 10-11 June 2013. We have posted the Deloitte observer notes from the meeting. Topics discussed included the costs and benefits of IFRS adoption, project updates and discussion on various IASB projects, an evaluation of the post-implementation review process, the Accounting Standards Advisory Forum (ASAF), and the role and composition of the IFRS Advisory Council. 2013-06-12T04:25:00Z 2013-06-12T04:25:00Z News Item http://www.iasplus.com/en/othernews/ifrs-foundation/arabic-ifrs-taxonomy?id=en:rss:direct The IFRS Foundation has published an Arabic translation of the IFRS (International Financial Reporting Standards) Taxonomy 2013. 2013-06-11T13:10:00Z 2013-06-11T13:10:00Z News Item http://www.iasplus.com/en/othernews/united-states/2013/aicpa-frf-for-smes?id=en:rss:direct The American Institute of CPAs (AICPA) has issued its special-purpose financial reporting framework ‘Financial Reporting Framework for Small-and Medium-Sized Entities’ (the FRF for SMEs). The FRF for SMEs provides another option for SMEs that are not required to prepare financial statements in accordance with US Generally Accepted Accounting Principles (GAAP). 2013-06-11T12:40:00Z 2013-06-11T12:40:00Z News Item http://www.iasplus.com/en/othernews/united-states/2013/fasb-endorses-3-pcc-proposals?id=en:rss:direct The US Financial Accounting Standards Board (FASB) has voted to approve three proposed alternatives by the Private Company Council (PCC) to improve financial reporting for private companies within US Generally Accepted Accounting Principles (GAAP). 2013-06-10T18:30:00Z 2013-06-10T18:30:00Z News Item http://www.iasplus.com/en/news/2013/06/xbrl-industry-practice-project?id=en:rss:direct In the last three years, the IASB XBRL team has been interacting with companies from various countries and industries to identify and develop extra concepts to the IFRS taxonomy reflecting common practices. The IASB XBRL team is re-establishing the project to examine and develop common industry practice concepts for the IFRS Taxonomy, and is looking to work directly with stakeholders across different industries and regions in order to increase comparability, reduce the number of XBRL extensions, and lower the burden on preparers. The process will be conducted by a joint programme of empirical analysis and interaction with industry representatives. 2013-06-10T17:35:00Z 2013-06-10T17:35:00Z News Item http://www.iasplus.com/en/othernews/ifac/2013/iaasb-annual-report?id=en:rss:direct The International Auditing and Assurance Standards Board (IAASB) has released its 2012 annual report. 2013-06-10T09:00:00Z 2013-06-10T09:00:00Z News Item http://www.iasplus.com/en/news/2013/06/iasb-agenda?id=en:rss:direct The IASB is meeting at its offices on 18 and 19 June 2013. Topics to be discussed by the IASB include the comprehensive review of the IFRS for SMEs and the annual improvements (cycles 2010-2012 and 2011-2013). The meeting also includes a joint meeting with the FASB to discuss the IASB's feedback on its proposals for limited scope amendments to IFRS 9 (classification and measurement). 2013-06-09T12:00:00Z 2013-06-09T12:00:00Z News Item http://www.iasplus.com/en/news/2013/06/acca?id=en:rss:direct The Association of Chartered Certified Accountants (ACCA) has issued two reports, ‘Understanding investors: directions for corporate reporting’ and ‘Understanding investors: the changing landscape’, which are part of a research series examining what investors want from corporate reporting. The reports reveal that investors have a lower level of confidence when it comes to corporate reports since the global financial crisis. However, they also show that integrated reporting might provide investors with information they are currently looking for elsewhere. 2013-06-08T11:40:00Z 2013-06-08T11:40:00Z News Item http://www.iasplus.com/en/news/2013/06/fasb-asu-2013-08?id=en:rss:direct The FASB has issued Accounting Standards Update (ASU) No. 2013-08, ‘Financial Services—Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements’. The ASU clarifies the characteristics for determining whether a public or private company is an investment company and sets measurement and disclosure requirements for an investment company. 2013-06-07T18:10:00Z 2013-06-07T18:10:00Z News Item http://www.iasplus.com/en/news/2013/06/feedback-goodwill?id=en:rss:direct In July 2012, the European Financial Reporting Advisory Group (EFRAG) and the Italian standard setter Organismo Italiano di Contabilita (OIC) issued a questionnaire on impairment requirements for goodwill. The results of the survey, which are intended as input to the IASB's post-implementation review of IFRS 3 'Business Combinations', were made available today in the form of a feedback statement. 2013-06-07T12:50:00Z 2013-06-07T12:50:00Z News Item http://www.iasplus.com/en/news/2013/06/eurostat-conference?id=en:rss:direct On 29-30 May 2013 a conference bringing together high-level stakeholders and decision makers from public sector accounting, auditing and statistics was held in Brussels to discuss the future development of harmonised government accounting standards in Europe. Participants discussed the development and implementation of European Public Sector Accounting Standards (EPSAS) as a means of enabling economic governance in the context of the current economic situation based on transparent and comparable accruals accounting data. 2013-06-07T11:15:00Z 2013-06-07T11:15:00Z News Item http://www.iasplus.com/en/othernews/new-and-revised/june-2013?id=en:rss:direct Our popular summary of new and revised financial reporting requirements, updated for financial reporting periods ending on 30 June 2013. This listing can be used to perform a quick check that all the new financial reporting requirements have been fully considered in the reporting close process. 2013-06-07T01:00:00Z 2013-06-07T01:00:00Z News Item http://www.iasplus.com/en/othernews/united-kingdom/2013/sharman-implementation?id=en:rss:direct The UK Financial Reporting Council (FRC) has published a press release saying it will "adopt lessons" from its consultation on the implementation of the findings in the Sharman Panel final report. The Sharman Panel of Inquiry was established in March 2011 at the invitation of the FRC to consider going concern and liquidity risks. 2013-06-06T13:40:00Z 2013-06-06T13:40:00Z News Item http://www.iasplus.com/en/othernews/ifrs-foundation/ifrsf-translations-6?id=en:rss:direct The IFRS Foundation has announced the publication of two French translations on Exposure Draft 'Regulatory Deferral Accounts' and IFRIC 21 'Levies'. 2013-06-06T13:20:00Z 2013-06-06T13:20:00Z News Item http://www.iasplus.com/en/othernews/sustainability/2013/sustainability-mous?id=en:rss:direct Several partnerships have been newly formed or confirmed by Memoranda of Understanding (MoU) signed between organisations such as the United States Sustainability Accounting Standards Board (SASB), the Carbon Disclosure Project (CDP), the Global Reporting Initiative (GRI), and CSR Europe. 2013-06-06T09:50:00Z 2013-06-06T09:50:00Z News Item http://www.iasplus.com/en/news/2013/06/cf-newsletter-asaf?id=en:rss:direct The European Financial Reporting Advisory Group (EFRAG), the French Autorité des Normes Comptables (ANC), the Accounting Standards Committee of Germany (ASCG), the Organismo Italiano di Contabilità (OIC) and the UK Financial Reporting Council (FRC) have published the fourth issue of their newsletter series ‘Keep up with getting a better framework’ informing European constituents on the latest developments regarding the progress of the Conceptual Framework project with the IASB and other stakeholders. 2013-06-05T13:55:00Z 2013-06-05T13:55:00Z News Item http://www.iasplus.com/en/news/2013/06/jurisdiction-profiles?id=en:rss:direct The IFRS Foundation has posted to its website a collection of 66 'jurisdiction profiles' detailing information about the adoption of International Financial Reporting Standards (IFRSs) and the IFRS for SMEs in all of the G20 jurisdictions and 46 other jurisdictions. 2013-06-05T11:20:00Z 2013-06-05T11:20:00Z News Item http://www.iasplus.com/en/othernews/australia/2013/aasb-compiled-standards?id=en:rss:direct The Australian Accounting Standards Board (AASB) has announced the availability of an initial batch of various 'compiled' standards that apply for annual reporting periods beginning on or after 1 January 2013. 2013-06-05T00:00:00Z 2013-06-05T00:00:00Z News Item http://www.iasplus.com/en/othernews/sustainability/2013/mdg-panel?id=en:rss:direct The United Nations High-level Panel on the Post-2015 Development Agenda has released its report on the recommended goals to replace the Millennium Development Goals (MDGs), including wider sustainability reporting for both business and governments, and better information for governments and people. 2013-06-03T07:20:00Z 2013-06-03T07:20:00Z News Item http://www.iasplus.com/en/news/2013/06/sec-speeches?id=en:rss:direct In speeches delivered at the 32th Annual SEC and Financial Reporting Institute Conference in Pasadena, Paul A. Beswick, the Chief Accountant at the US Securities and Exchange Commission (SEC), and the SEC's Commissioner Elisse B. Walter spoke about why the U.S. needs a strong IASB and on the topic of high-quality financial reporting. 2013-06-02T17:00:00Z 2013-06-02T17:00:00Z News Item http://www.iasplus.com/en/news/2013/05/golden-speech?id=en:rss:direct In a speech delivered at the 32th Annual SEC and Financial Reporting Institute Conference in Pasadena, California on 30 May, upcoming Financial Accounting Standards Board (FASB) Chairman Russell Golden presented his views on the FASB’s current and future tasks. 2013-05-31T19:35:00Z 2013-05-31T19:35:00Z News Item http://www.iasplus.com/en/news/2013/05/fasb-pir-141r-response?id=en:rss:direct The Financial Accounting Standards Board (FASB) has issued a response that evaluates the outcome of the Financial Accounting Foundation’s (FAF) Post-Implementation Review (PIR) of FASB Statement No 141(R), ‘Business Combinations’ (codified in FASB Accounting Standards Codification, Topic 805). 2013-05-31T13:15:00Z 2013-05-31T13:15:00Z News Item http://www.iasplus.com/en/othernews/australia/2013/aasb-may-2013?id=en:rss:direct The Australian Accounting Standards Board met on 28-29 May 2013. The Action Alert from the meeting has been released, and indicates that the AASB has tentatively decided to implement the IASB's investment entities amendments in the Australian context, without additional Australian disclosures. This position is different to the position put forward in an Australian-specific exposure draft published in December 2012. 2013-05-31T08:20:00Z 2013-05-31T08:20:00Z News Item http://www.iasplus.com/en/news/2013/05/icaa-report?id=en:rss:direct The Institute of Chartered Accountants in Australia (ICAA) has released a report calling for reform of global public sector reporting, including the 'transformation' of the International Public Sector Accounting Standards Board (IPSASB) and the integration of the private and public sector financial reporting models under the auspices of the IFRS Foundation, possibly eventually leading in the longer term to a potential merger of the IPSASB and International Accounting Standards Board (IASB). 2013-05-31T07:40:00Z 2013-05-31T07:40:00Z News Item http://www.iasplus.com/en/news/2013/05/work-plan?id=en:rss:direct The International Accounting Standards Board (IASB) has updated its work plan, following its recent meeting and the issue of a number of pronouncements. The timing of expected milestones have been deferred or clarified in relation to general hedge accounting, annual improvements and other narrow scope projects. Following the issue of the re-exposed leases proposals, the work plan formally schedules the expected commencement of redeliberations in the fourth quarter of 2013. 2013-05-31T00:35:00Z 2013-05-31T00:35:00Z News Item http://www.iasplus.com/en/news/2013/05/efrag-status-report-2?id=en:rss:direct 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. The latest report reflects the publication of 'Recoverable Amount Disclosures for Non-Financial Assets' (Amendments to IAS 36) by the IASB. 2013-05-30T12:50:00Z 2013-05-30T12:50:00Z News Item http://www.iasplus.com/en/news/2013/05/ifrs-ac?id=en:rss:direct The IFRS Advisory Council is meeting in London on 10-11 June 2013. The agenda for the meeting has recently been made available. Topics to be discussed include the costs and benefits of IFRS adoption, project updates and discussion on various IASB projects, an evaluation of the post-implementation review process, the Accounting Standards Advisory Forum (ASAF), and the role and composition of the IFRS Advisory Council. 2013-05-30T04:50:00Z 2013-05-30T04:50:00Z News Item http://www.iasplus.com/en/news/2013/05/cmac-gpf?id=en:rss:direct Representatives from the International Accounting Standards Board (IASB) will meet with both the Capital Markets Advisory Council (CMAC) and Global Preparers Forum (GPF) in London on Thursday, 13 June 2013. The agenda for the joint meeting has been released. The meeting will consist of a series of discussions and breakout sessions on disclosure, financial performance and leases. 2013-05-30T04:15:00Z 2013-05-30T04:15:00Z News Item http://www.iasplus.com/en/news/2013/05/bac?id=en:rss:direct Japan’s Business Accounting Council (BAC) met on 28 May 2013 to continue its deliberations about the use of International Financial Reporting Standards (IFRSs) in Japan. No decisions were made during the meeting while the BAC took another step toward concluding the debate. 2013-05-29T13:30:00Z 2013-05-29T13:30:00Z News Item http://www.iasplus.com/en/news/2013/05/ias-36?id=en:rss:direct The International Accounting Standards Board, as a consequential amendment to IFRS 13 'Fair Value Measurement', modified some of the disclosure requirements in IAS 36 'Impairment of Assets' regarding measurement of the recoverable amount of impaired assets. However, one of the amendments potentially resulted in the disclosure requirements being broader than originally intended. The IASB has rectified this through the issue of 'Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36)'. 2013-05-29T10:20:00Z 2013-05-29T10:20:00Z News Item http://www.iasplus.com/en/othernews/united-kingdom/2013/frc-audit-quality-inspections-report-2012-13?id=en:rss:direct The Financial Reporting Council (FRC) has published the Audit Quality Inspection Report for 2012/13 which provides an overview of the audit quality inspection work carried out by its Audit Quality Review (AQR) team. The report provides an assessment of audit quality and also provides key messages that audit firms should pay attention to if they are to improve their overall level of audit quality. The report indicates that there has been an improvement in the overall standard of audit work subject to inspection. However the report also highlights that there has been an increase in the proportion of audits of entities outside of the FTSE 350 as requiring significant improvements. Findings also indicate that there is a need for firms to increase their focus on professional scepticism and the effectiveness of their independence and ethical policies and procedures. 2013-05-29T00:00:00Z 2013-05-29T00:00:00Z News Item http://www.iasplus.com/en/othernews/new-and-revised/march-2013?id=en:rss:direct The information on this page provides a high level overview of new and revised financial reporting requirements that need to be considered for financial reporting periods ending on 31 March 2013. This listing can be used to perform a quick check that all the new financial reporting requirements have been fully considered in the reporting close process. 2013-05-28T23:00:00Z 2013-05-28T23:00:00Z News Item http://www.iasplus.com/en/news/2013/05/disclosure-feedback-statement?id=en:rss:direct The International Accounting Standards Board (IASB) has published a Feedback Statement summarising the discussions at a forum hosted by the IASB on financial information disclosure, and outlining its response to the matters raised. The IASB wishes to act as a catalyst for collective action by preparers, regulators, the accounting profession, as well as the IASB, to address ongoing concerns about the quality and quantity of financial reporting disclosure. In its response, the IASB has indicated it will consider a number of initiatives, including narrow scope amendments to IAS 1 'Presentation of Financial Statements', seeking to develop educational material on materiality, and considering a project as part of its research agenda to address broader challenges associated with disclosure. 2013-05-28T12:50:00Z 2013-05-28T12:50:00Z News Item http://www.iasplus.com/en/othernews/sustainability/2013/gri-reports?id=en:rss:direct The Global Reporting Initiative (GRI) has release a number of research reports on sustainability and integrated reporting topics: sustainability topics for various sectors, the experience from early adopters of 'integrated reporting', and assurance on sustainability reports. 2013-05-28T05:55:00Z 2013-05-28T05:55:00Z News Item http://www.iasplus.com/en/othernews/sustainability/2013/unep-fi-ncd-roadmap?id=en:rss:direct The United Nations Environment Programme Finance Initiative (UNEP FI) has released a 'NCD Roadmap', which seeks to implement the four key commitments of the Natural Capital Declaration (NCD). The UNEP FI is a global finance-led initiative to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting. 2013-05-28T03:30:00Z 2013-05-28T03:30:00Z News Item http://www.iasplus.com/en/news/2013/05/iasb-meeting-4?id=en:rss:direct The IASB's meeting was held in London on 21-24 May 2013. We have posted the final Deloitte observer notes from Friday's session on limited amendments to IFRS 9, where the IASB and FASB discussed feedback received by the IASB on its exposure draft ED/2012/4 'Classification and Measurement: Limited Amendments to IFRS 9'. 2013-05-27T00:15:00Z 2013-05-27T00:15:00Z News Item http://www.iasplus.com/en/news/2013/05/efrag-dcl-rra?id=en:rss:direct The European Financial Reporting Advisory Group Technical Expert Group (EFRAG TEG) has published a draft comment letter on the IASB's exposure draft ED/2013/5 'Regulatory Deferral Accounts'. In the proposed comment letter the EFRAG makes clear that it does not agree with the pursuance of this interim project. 2013-05-25T10:15:00Z 2013-05-25T10:15:00Z News Item http://www.iasplus.com/en/news/2013/05/iasb-meeting-3?id=en:rss:direct The IASB's meeting was held in London on 21-24 May 2013. We have posted Deloitte observer notes from Wednesday's session on novation of derivatives and continuation of hedge accounting (IAS 39); Thursday's sessions on macro hedge accounting and revenue recognition; and Friday's joint IASB/FASB session on revenue recognition. 2013-05-24T20:10:00Z 2013-05-24T20:10:00Z News Item