August

IASB posts comment letters on IFRS 3 scope amendment

07 Aug 2004

The IASB has posted on its Website the 30 letters of comment received on the exposure draft Proposed Amendments to IFRS 3 Business Combinations – Combinations by Contract Alone or Involving Mutual Entities.

Click for Deloitte's Letter.

Approach to implementing IFRSs by Australian bank regulator

07 Aug 2004

The Australian Prudential Regulation Authority (APRA) – Australia's regulator of banks, insurance companies, superannuation funds, credit unions, and other financial institutions – has outlined the approach it will be taking during the implementation of IFRSs in Australia.

This follows confirmation of the Australian equivalents to these Standards by the Australian Accounting Standards Board in mid-July. All Australian reporting entities must adopt IFRSs for reporting periods beginning on or after 1 January 2005. This will, in turn, require APRA to revise its prudential standards and statistical requirements for deposit-taking institutions and insurance companies. Click for (PDF 52k).

IFAC Public Sector Committee update

05 Aug 2004

The IFAC Public Sector Committee has released PSC Update 12 (PDF 89k), which outlines recent progress on the PSC's standards program, provides a brief update on discussions with the PSC's Consultative Group at the last PSC meeting, and notes that the Report of the PSC Externally Chaired Review Panel has been finalised and is available from the IFAC website (www.ifac.org).

PSC standards are based on IFRSs.

Three new IFRS e-learning modules are now available

04 Aug 2004

Three new e-learning modules have been added to the 20 other modules available in Deloitte's popular IFRS e-Learning programme.

You can access all available modules by clicking the IFRS e-Learning 'light bulb' on the IASPlus home page or by clicking Here. Deloitte is making our IFRS e-Learning programme available in the public interest without charge. The three new modules are:
  • IAS 12 Income Taxes
  • IAS 19 Employee Benefits
  • IFRS 1 First-time Adoption of International Financial Reporting Standards

iGAAP 2005 Financial Statements for UK Listed Groups

03 Aug 2004

This publication focuses on how UK listed companies' financial statements will change as a result of the requirement to adopt IFRSs from 2005, and: explains the regulatory framework that requires UK listed groups to prepare their consolidated financial statements in accordance with IFRS; contains model financial statements and detailed commentary to illustrate the principal statutory, professional, and listing authority requirements, and; comments on the EU regulation that is driving change from UK GAAP to IFRS GAAP for listed groups, the companies affected, and the standards from the International Accounting Standards Board. iGAAP 2005 Financial Statements for UK Listed Groups can be purchased through CCH Online or by phone at +44 0870 777 2906. iGAAP 2005 Financial Instruments will be available from September 2004, and the complete iGAAP 2005 Manual, similar in style to Deloitte's GAAP 2004 guide to UK reporting requirements, will be available from November 2004. .

This publication focuses on how UK listed companies' financial statements will change as a result of the requirement to adopt IFRSs from 2005, and:

  • explains the regulatory framework that requires UK listed groups to prepare their consolidated financial statements in accordance with IFRS;
  • contains model financial statements and detailed commentary to illustrate the principal statutory, professional, and listing authority requirements, and;
  • comments on the EU regulation that is driving change from UK GAAP to IFRS GAAP for listed groups, the companies affected, and the standards from the International Accounting Standards Board.
iGAAP 2005 Financial Statements for UK Listed Groups can be purchased through CCH Online or by phone at +44 0870 777 2906. iGAAP 2005 Financial Instruments will be available from September 2004, and the complete iGAAP 2005 Manual, similar in style to Deloitte's GAAP 2004 guide to UK reporting requirements, will be available from November 2004.

IASB posts comment letters on IAS 19 amendment

03 Aug 2004

The IASB has posted on its Website the 45 letters of comment received on the exposure draft Proposed Amendments to IAS 19 Employee Benefits – Actuarial Gains and Losses, Group Plans and Disclosures.

Click for Deloitte's Letter.

IFRIC project pages updated to reflect July meeting

02 Aug 2004

We have updated the following four IFRIC agenda project pages to reflect the discussions at IFRIC's July 2004 meeting.

EFRAG invites comments on IASB SME discussion paper

01 Aug 2004

The European Financial Reporting Advisory Group (EFRAG) has invited comments on its draft response to the IASB discussion paper Preliminary Views on Accounting Standards for Small and Medium-sized Entities.

EFRAG's Comment deadline is 20 September 2004:

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