New Global Offerings Services newsletter

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09 Aug 2005

We have posted the (PDF 382k).

Global Offerings Services is a global team of Deloitte practitioners assisting non-US companies and non-US practice office engagement teams in applying US and International accounting standards (that is, US GAAP and IFRSs) and in complying with the SEC's financial reporting rules. Past GOs Newsletters are Here.

On 12 April 2005, the US Securities and Exchange Commission adopted its final rule First-time Application of International Financial Reporting Standards (IFRS). Subsequently, several implementation questions have arisen. To promote consistency in applying the SEC rule and reducing uncertainties foreign private issuers may face during the transition year, the AICPA International Practices Task Force developed a series of frequently asked questions based on discussions with the SEC staff. The SEC staff has indicated that it does not object to the views expressed herein. An appendix to the July 2005 GOS Newsletter contains the full text of the Q&As.;

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