2004

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Equivalence of national GAAPs and IFRSs

21 Oct 2004

The Committee of European Securities Regulators (CESR) has published a Concept Paper on Equivalence of Certain Third Country GAAP and on Description of Certain Third Countries' Mechanisms for Enforcement of Financial Information.

CESR developed the paper in response to a request from the European Commission for advice on equivalence of Canadian, Japanese, and United States GAAPs with IFRSs. The EC also asked CESR to describe the mechanisms existing in those countries and others for the enforcement of standards for financial information. The concept paper sets out the basis on which CESR will approach its analysis. Click to (PDF 289k). CESR has requested comments on its concept paper by 22 December 2004.
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Notes from the third day of the IASB meeting

21 Oct 2004

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page. .

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page.

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IASC Foundation is seeking three trustees

20 Oct 2004

The IASC Foundation is seeking three new members of its board of trustees – one each from the Asia-Pacific region, Europe, and North America.

One should have senior experience in accounting, and another must have a background in the user community, which could include senior experience in investment organisations, regulatory bodies, or analyst institutions. The appointments will be for the three years expiring on 31 December 2007, with one renewal possible. Click for More Information (PDF 14k).
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100,000 e-learning downloads from IASPlus

20 Oct 2004

Yesterday the -->100,000th --> IFRS e-learning module was downloaded from IASPlus since Deloitte's e-learning was launched at the end of January.

Many of those modules have multiple users because organisations are permitted to install the Deloitte IFRS e-learning modules on their own servers for the internal use of their employees or students. In addition, tens of thousands of modules have been completed online and offline by Deloitte staff. You can always access IFRS e-learning without charge by clicking on the light bulb icon on the IASPlus home page.
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Notes from the second day of the IASB meeting

20 Oct 2004

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page. .

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page.

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Minutes of 1 October 2004 ARC meeting

20 Oct 2004

The European Commission has published the minutes of the 1 October 2004 meeting of its Accounting Regulatory Committee at which the ARC recommended endorsement of IAS 39 for use in Europe with two sections "carved out": The carve-outs would (1) prohibit use of the IAS 39 fair value option as it applies to liabilities, and (2) allow using fair value hedge accounting for interest rate hedges of core deposits on a portfolio basis.

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EFRAG letter on IAS 39 amendments

20 Oct 2004

The European Financial Reporting Advisory Group has submitted its written comments to IASB on the exposure draft of Proposed Amendments to IAS 39 – Cash Flow Hedge Accounting of Forecast Intragroup Transactions (PDF 48k). .

The European Financial Reporting Advisory Group has submitted its written comments to IASB on the exposure draft of Proposed Amendments to IAS 39 – Cash Flow Hedge Accounting of Forecast Intragroup Transactions (PDF 48k).

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FASAC members comment on convergence

19 Oct 2004

The US Financial Accounting Standards Board has posted on its website the findings of its annual survey of members of the Financial Accounting Standards Advisory Council.

One interesting finding is that "FASAC members generally would not automatically assign a higher priority to projects that provide international convergence opportunities. Nor do they believe that the Board should always add a project to its agenda because the IASB does". Click to view or download the report of the Annual FASAC Survey.
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Notes from first day of October 2004 IASB meeting

19 Oct 2004

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page. .

We have combined all of our preliminary and unofficial notes from the 18-20 October 2004 IASB meeting onto a Single Page.

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New SEC staff appointee to focus on international issues

18 Oct 2004

The US Securities and Exchange Commission has announced the appointment of Julie A.

Erhardt as Deputy Chief Accountant responsible for international issues, reporting to Donald T. Nicolaisen, Chief Accountant. Ms. Erhardt will work closely with various international organisations including the IASB and IFAC on issues relating to convergence of accounting, auditing, and reporting standards. She spent seven months on an interim assignment with the IASB and also served a two-year fellowship at the FASB. Click for SEC News Release.

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