July

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IASB-FASB meeting – Agenda changes

22 Jul, 2010

The agenda for the July 2010 IASB meeting has been changed again.

We have updated our page with the Next Meeting Agenda accordingly. Hedge Accounting was not discussed yesterday but moved to today. Also, there will be a short session on Rate-regulated Activities to discuss the way forward. On Tuesday the IASB hat concluded that it seems unlikely for the Board to reach a decision that would allow for a solution to be found in time for the adoption of IFRSs by Canada.

 

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Notes from day 4 of July 2010 IASB meeting

21 Jul, 2010

The IASB is holding a meeting on 19-23 July 2010 at the IASB's office in London, some of which is a joint meeting with the FASB.

The topics discussed on day 4 were as follows (click through to detailed Deloitte observer notes for that topic):

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

 

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The Future of UK GAAP

21 Jul, 2010

In August 2009 the Accounting Standards Board (ASB) had issued a consultation paper Policy Proposal: the Future of UK GAAP, which set out proposals for the future reporting requirements for UK and Irish entities.

The deadline for comments on the proposal ended 1 February 2010. The ASB's next steps include developing and drafting a Financial Reporting Exposure Draft (FRED) for consultation. The FRED will include an impact assessment. The ASB has now issued a request for responses to aid the development of that impact assessment. The request for responses Assessing the impact of the Accounting Standards Board proposals for the future of UK and Irish Financial Reporting can be downloaded here (PDF 75k). The deadline for responses is 20 August 2010.
Click for earlier story: Proposal to adopt IFRS for SMEs in place of UK/Irish FRSs

 

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Additional Board meeting on 24 August

21 Jul, 2010

The IASB will hold an additional Board meeting on 24 August 2010 from 11:00 to 15:00 to discuss the Financial Instruments project.

The IASB accelerates its work on this issue in order to meet the Q2 2011 deadline for replacing IAS 39 with a new standard. Together with the additional Board meeting on 3 August 2010, the extra meeting will enable the staff to make faster progress on this project.
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Updated EFRAG 'endorsement status report'

20 Jul, 2010

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.

Click to download the Endorsement Status Report as of 20 July 2010 (PDF 124k). Currently, the following three IASB pronouncements await endorsement action:
  • IFRS 9 Financial Instruments
  • IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments
  • Improvements to IFRSs
You can always find the endorsement status report Here.

 

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Notes from day 2 of July 2010 IASB meeting

20 Jul, 2010

The IASB is holding a meeting on 19-23 July 2010 at the IASB's office in London, some of which is a joint meeting with the FASB.

The topics discussed on day 2 were as follows (click through to detailed Deloitte observer notes for that topic): Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the meeting.

 

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Notes from day 1 of July 2010 IASB-FASB meeting

20 Jul, 2010

The IASB and FASB are holding a joint meeting on 19-23 July 2010 at the IASB's office in London.

The topics discussed on the first day of the meeting were as follows (click through to detailed Deloitte observer notes for that topic): Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the meeting.

 

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IVSC Issues two documents for consultation

20 Jul, 2010

The International Valuation Professional Board (IVPB) of the International Valuation Standards Council (IVSC) has released two documents for consultation, dealing with the definition of, and the code of ethics for, professional valuers.

The Consultation documents are:

Comments will be accepted until 30 September 2010.

 

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IASB-FASB meeting – Agenda changes

20 Jul, 2010

The agenda for the July 2010 IASB meeting has been changed.

There have been changes to the agenda and running order for Wednesday 21 and Thursday 22 July:
  • An additional Leases joint meeting has been scheduled for Wednesday
  • The Insurance Contracts joint meeting scheduled for Thursday has been cancelled
  • IAS 29 has moved to Thursday
  • The afternoon sessions on Thursday may be brought forward if the tentative Thursday Leases session is cancelled
  • An IFRS Advisory Council update has been added to the agenda for Wednesday
We have updated our page with the Next Meeting Agenda accordingly.

 

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IASB meeting scheduled for 3 August

20 Jul, 2010

The IASB has scheduled a meeting on 3 August from 11:00 to 14:00 to discuss the Financial Instruments project.

 

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