The International Financial Reporting Interpretations Committee (IFRIC) and the Standards Advisory Council (SAC) have already been renamed as the IFRS Interpretations Committee and the IFRS Advisory Council, respectively. The name of the International Accounting Standards Board (IASB) will remain unchanged. The IASB's website has been changed to coincide with the name change and is now www.ifrs.org. In addition, IFRS Foundation and IASB email addresses will end in '@ifrs.org'. We have updated the links on our pages to reflect the new addresses. (The old iasb.org webpages and email addresses will be rerouted to ifrs.org from 1 July 2010 and so will continue to work.) Click for IASC announcement. See also our IFRS Foundation page.

 

The 2010 edition continues to include many practical examples, comparisons with US GAAP, an IFRS 7 disclosure checklist and model disclosures. The new edition also includes guidance on the IASB's new standard on financial assets, IFRS 9 Financial Instruments, as well as Interpretations and relevant IASB activities up to and including 31 March 2010. iGAAP 2010 Financial Instruments: IAS 32, IAS 39, IFRS 7 and IFRS 9 Explained (Sixth Edition) (1,139 pages, June 2010) can be purchased through www.lexisnexis.co.uk/deloitte. You will find a permanent link to this and many other Deloitte IFRS publications on our IFRS Publications Page.

 

Before finalising and publishing the exposure draft, the boards will engage in further outreach and analysis. These activities will focus primarily on two issues: (1) the perceived benefits and costs of the proposals, and (2) the implications of the proposals for financial reporting by financial institutions. The boards are not formally inviting comments on the this staff draft; however, they welcome input from interested parties. The boards expect to publish an exposure draft for public comment in early 2011. Link to IAS Plus Project Page.

 

Last week the European Union published the Commission Regulation (EC) No 550/2010 (Amendments to IFRS 1 Additional Exemptions for First-time Adopters) endorsing the amendments adopted by the IASB on 23 July 2009. Thus currently only five IASB pronouncements await endorsement action.