March

Notes from IASB March 2010 meeting day 5

20 Mar, 2010

The IASB and FASB held a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Newsletter on reporting entity exposure draft

20 Mar, 2010

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – IASB publishes Exposure Draft on Conceptual Framework Description of the Reporting Entity.

On 11 March 2010, the IASB published for comment an exposure draft (ED) on the reporting entity concept. The proposals form part of a Joint Project to develop a common and improved conceptual framework that provides the basis for developing future accounting standards. Comment deadline is 16 July 2010. Our newsletter explains the proposals in the ED and their implications for consolidated financial statements and other types of financial statements. Click to view IAS Plus Update Newsletter – IASB publishes Exposure Draft on Conceptual Framework Description of the Reporting Entity (PDF 69k). All of our past IAS Plus newsletters are Here.

 

Notes from IASB March 2010 meeting day 4

19 Mar, 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

IFRS insurance accounting newsletter

19 Mar, 2010

Deloitte (United Kingdom) has published the March 2010 issue of Insurance Accounting Newsletter.

This issue is titled Insurance Accounting Taking Shape and focuses on the discussions the joint IASB-FASB meetings of 10 February and 18 February. The expected publication date of the Exposure Draft is May 2010. Click to download Issue 12 of the Insurance Accounting Newsletter(PDF 130k).

 

Notes from IASB March 2010 meeting day 3

18 Mar, 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010. Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting. .

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010. Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Notes from IASB March 2010 meeting day 2

17 Mar, 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Special joint IASB-FASB meeting 8 April

16 Mar, 2010

The IASB has announced that a special joint IASB-FASB meeting has been scheduled at the IASB's offices in London on Thursday 8 April 2010.

The Boards will also hold their regular April monthly meeting in London on 19-23 April 2010.

IASB Chairman addresses EU finance ministers

16 Mar, 2010

On 16 March 2010, IASB Chairman Sir David Tweedie addressed a meeting of the Finance and Economic Ministers of the European Union member states.

He reported on the progress that the IASB has made in achieving the 2011 convergence target set out by the G20, and issues related to the financial crisis raised by the G20 and the European Union. Click to download Sir David's Prepared Statement (PDF 26k).

IOSCO principles of data collection for hedge funds

15 Mar, 2010

The International Organization of Securities Commissions' (IOSCO) Technical Committee has published details of an agreed template for the global collection of hedge fund information.

The template is intended to enable the collection and exchange of consistent and comparable data amongst regulators and other competent authorities to facilitate international supervisory cooperation in identifying possible systemic risks in this sector. IOSCO believes that participants are best monitored through their trading activities, the markets they operate in, funding and counterparty information, amongst others.

There are 11 proposed categories of information which incorporate both supervisory and systemic data and build on the data collection recommendations set out in its final report on Hedge Fund Oversight (June 2009). Those categories are:

  • General manager and adviser information
  • Performance and investor information related to covered funds
  • Assets under management
  • Gross and net product exposure and asset class concentration
  • Gross and net geographic exposure
  • Trading and turnover issues
  • Asset/liability issues
  • Borrowing
  • Risk issues
  • Credit counterparty exposure
  • Other issues
IOSCO recommends that the first data gathering exercise should be carried out on a best efforts basis (given pending legislation in many jurisdictions) in September 2010. Click for:

Updated summary of IFRIC agenda rejections

13 Mar, 2010

We have updated our Summary of Issues Not Added to IFRIC's Agenda to reflect the IFRIC's final decisions at its March 2010 meeting not to add the following topics to its agenda.

Our summary now includes 180 issues:
  • IAS 21 The Effects of Changes in Foreign Exchange Rates – Determination of functional currency of an investment holding company
  • IAS 32 Financial Instruments: Presentation – Shareholder discretion
  • IAS 36 Impairment of Assets – Interaction with transition requirements of IFRS 8
  • IAS 39 Financial Instruments: Recognition and Measurement – Unit of account for forward contracts with volumetric optionality

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.