2001

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EC moving toward IAS

06 Feb 2001

In a speech on the integration of the European financial markets in Stockholm on 22 January, European Commission Internal Market Commissioner Frits Bolkestein said: The Commission is also about to issue a proposal for a single set of accounting standards based on International Accounting Standards (IAS).

This will reduce costs for businesses and vastly improve market transparency. Better transparency leads to better price discovery. That in turn reduces hidden market distortions by allowing fair and easy comparison. Click for (PDF 42k).
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Structure section of IASPlus expanded

05 Feb 2001

The section of our website describing IASC's new Structure has been expanded. .

The section of our website describing IASC's new Structure has been expanded.

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CGAA supports IAS for Canada

01 Feb 2001

In a public statement to Canada's Accounting Standards Oversight Council, the Certified General Accountants Association of Canada strongly supported adopting the IASC standards in Canada.

CGA-Canada "firmly supports moving away from setting national accounting standards based on those set by the Financial Accounting Standards Board (FASB), in favour of harmonized global standards". Link to the CGA-Canada News Story.
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Extractive industries issues paper available electronically

31 Jan 2001

IASC has released an electronic version of the Extractive Industries Issues Paper (ZIP 568k).

There is also a separate Issues Summary (PDF 198k).
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Members of International Accounting Standards Board appointed

29 Jan 2001

The IASC Foundation Trustees have announced the appointment of the new, 14-member International Accounting Standards Board (IASB).

Membership of the International Accounting Standards Board (IASB):

  • Sir David Tweedie, Chairman
  • Thomas E. Jones, Vice Chairman
  • Mary E. Barth
  • Hans-Georg Bruns - Liaison to German Standard Setter
  • Anthony T. Cope
  • Robert P. Garnett
  • Gilbert Gelard - Liaison to French Standard Setter
  • Robert H. Herz
  • James J. Leisenring - Liaison to US Standard Setter
  • Warren McGregor - Liaison to Australian and New Zealand Standard Setters
  • Patricia O'Malley - Liaison to Canadian Standard-Setter
  • Harry K. Schmid
  • Geoffrey Whittington - Liaison to UK Standard Setter
  • Tatsumi Yamada - Liaison to Japanese Standard Setter

 

Ms. Barth and Mr. Herz will serve part time, the others full time. Click for:
International Accounting Standards Board is the new name of the board. IASB is expected to hold its first meeting in April 2001.

 

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January 2001 edition of IASPlus Newsletter is published

24 Jan 2001

We have posted the January 2001 edition of the -->IAS PLUS --> newsletter. .

We have posted the January 2001 edition of the IAS PLUS newsletter.

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IASC publishes an index to IAS 39 guidance

24 Jan 2001

IASC has posted an Index to IAS 39 Guidance Q&A. .

IASC has posted an Index to IAS 39 Guidance Q&A.;

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French COB recommends preparing for IAS now

22 Jan 2001

The French securities regulator COB has issued a Bulletin recommending that French listed companies commence without delay their preparations for the transition to IAS by 2005 and reminding the companies that they will have to present comparative figures for 2003 and 2004. .

The French securities regulator COB has issued a Bulletin recommending that French listed companies commence without delay their preparations for the transition to IAS by 2005 and reminding the companies that they will have to present comparative figures for 2003 and 2004.

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Global quality standards for transnational audits

21 Jan 2001

Twenty-three international accountancy firms have begun to develop a Global Quality Standard for firms conducting transnational audits.

The intention is to ensure consistent, high-quality auditing practices worldwide as a means of protecting the interests of cross-border investors and of promoting financial market stability. IFAC has created a Forum of Firms whose members must agree to conform to the Forum's Global Quality Standard, and to subject their assurance work to periodic external reviews. Click for (PDF 65k).
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IASPlus information for 12 countries has been updated

19 Jan 2001

We have updated the Country-by-Country Information to reflect recent standards-setting activity in Australia, Brunei Darussalam, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Pakistan, Philippines, Singapore, and Vietnam. .

We have updated the Country-by-Country Information to reflect recent standards-setting activity in Australia, Brunei Darussalam, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Pakistan, Philippines, Singapore, and Vietnam.

Correction list for hyphenation

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