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Summary of ARC 7 July 2006 meeting

  • European Union (old) Image

01 Aug 2006

The European Commission has posted a (PDF 39k).

Matters discussed include:
  • Roundtable on Consistent Application of IFRSs (click for Info on the Roundtable)
  • IFRIC working procedures and due process (see our news story of 7 May 2006.
  • Equivalence between IFRSs and third country GAAP, in particular US GAAP
  • IASB financing
  • Update on the Commission's project to consolidate the various Regulations by which IFRSs have been endorsed in the past into a single Regulation containing all endorsed IFRSs
  • Creation of a 'Standards Advice Review Group'. The ARC summary states:

    "The creation of the Group was foreseen in the Commission-EFRAG Working Arrangement signed earlier this year. It had not been possible to formally adopt EFRAG as a technical committee of the Commission and this working arrangement had been the alternative, suitable compromise."

  • Service concession arrangements
  • Segment reporting
The next ARC meeting is planned for 26 September 2006.

Correction list for hyphenation

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