12 Nov 2003
Deloitte & Touche (Singapore) has published an update of the New Financial Reporting Framework in Singapore, which includes a comparison of Singapore GAAP and IFRS.
11 Nov 2003
During the third quarter of 2003, accounting standards-setters and accounting regulators issued a number of final and proposed SFASs, SOPs, IFRSs, EITF consensuses, SEC rules, and PCAOB rules and standards affecting accounting practice, financial reporting, and corporate governance.
The IASB will meet with the Standards Advisory Council on 20 and 21 November 2003 at the Renaissance Chancery Court Hotel, 252 High Holborn, London, United Kingdom.
AGENDA FOR STANDARDS ADVISORY COUNCIL MEETING20-21 NOVEMBER 2003
10 Nov 2003
The November 2003 meeting of the IASB, originally announced for 17-19 November, will now be held only on 18-19 November at the Board's offices in London.
07 Nov 2003
At their meeting in Brussels on 4 November 2003, the trustees of the IASC Foundation (which oversees the IASB) announced the appointment of a committee to review the IASB's constitution.
IASC Foundation Constitution Review
At its 3 November 2003 meeting, the constitution review committee felt it was important to announce the existence of the committee. The procedures and timetable were also decided. Meetings would generally be open, with proposals published prior to decisions being made. A list of topics to be examined will be issued quickly without comment on the relative importance of each, though the committee recognised that some additional questions might arise in the course of their work.
The committee felt that transparency is essential. The trustees discussed staffing for the review and concluded that at most one additional staff member could be funded. They discussed, without conclusion, whether there should be an advisory board. While such a board would provide a good sounding board, some trustees were concerned that an advisory board might assume some of the power of the review committee itself. The matter of duplication of effort of the review committee and the advisory board was also discussed.
Trustees noted that the Constitution is detailed and rule based. They discussed whether it provides for sufficient representation by analysts and preparers of accounts. They noted that it is sometimes difficult to get these parties involved in IASB activities and that this issue can not be resolved in the constitution.
Trustees noted that the constitution includes a list of organisations which the IASB should consult, but some important groups (such as the Basel Committee) are not included. However the IASB Chairman noted that while the wording needed to be altered slightly, the list was not meant to be exhaustive and did not preclude consultation with other groups.
We have created a new Page on IASPlus to track the progress of the constitution review.
06 Nov 2003
We have posted links to the two most recent comment letters to the IASB from the European Financial Reporting Advisory Group: (1) ED 4 'Disposal of Non-Current Assets and Presentation of Discontinued Operations' (2) ED 5 'Insurance Contracts' .
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The US Securities and Exchange Commission has approved new rules adopted by the New York Stock Exchange and NASDAQ aimed at strengthening of corporate governance standards for listed companies.
05 Nov 2003
The IASB is making available on-line to subscribers the preliminary final texts of Standards being revised under the Improvements Project.
04 Nov 2003
Deloitte Touche Tohmatsu has published Financial Reporting in the Global Mining Industry, a survey of the financial reporting practices in 21 of the world's leading mining companies based on a review of their published annual financial statements and supplementary data.
We have updated the following agenda project pages to reflect Board deliberations at its October 2003 meeting: .
We have updated the following agenda project pages to reflect Board deliberations at its October 2003 meeting:
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