May

Deloitte comment letter on Basel Committee's expect credit losses consultative document Image

We comment on the Basel Committee’s expect credit losses consultative document

01 May, 2015

We have published our comment letter on the Basel Committee on Banking Supervision’s consultative document, ‘Guidance on accounting for expected credit losses’.

The consultative document sets out supervisory expectations for banks relating to sound credit risk practices associated with implementing and applying an expected credit loss accounting framework. We support the Committee’s initiative and provide comments regarding the scope, consistency with IFRS, and audit implications.

Click to access the full comment letter.

IFRS Foundation (blue) Image
ASAF (Accounting Standards Advisory Forum) (mid blue) Image

IFRS Foundation seeks nominations and issues feedback statement for the ASAF

01 May, 2015

The IFRS Foundation has announced that it is seeking nominations for membership in the Accounting Standards Advisory Forum (ASAF) and has issued a feedback statement in response to the review of this forum. The ASAF is chaired by the IASB and has 12 other members from various locations around the world.

Can­di­dates seeking mem­ber­ship should review the criteria in the call for nominations. Nom­i­na­tions are due by 28 May 2015.

The feedback statement reveals “strong support for the ASAF and for the IASB’s com­mit­ment to the ASAF.” Further, the statement notes that the trustees are satisfied with the current ASAF mem­o­ran­dum of un­der­stand­ing but will amend the forum’s terms of reference to extend the terms of mem­ber­ship from two to three years and will adjust the criteria for setting its meeting agenda.

 For more information, see the press release on the IASB’s website.

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