Update on IFRS for NPAEs

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03 Mar 2009

We have posted an article 'An IFRS for Private Entities' by Paul Pacter, the IASB's Director of Standards for Non-publicly Accountable Entities and webmaster of IAS Plus.

The article (PDF 142k) is from the February 2009 issue of the International Journal of Disclosure and Governance, is copyright 2009 by Palgrave Macmillan, and has been posted on IAS Plus with their kind permission. The article discusses:
  • the IASB's reasons for issuing an IFRS for private entities [the name has been changed to IFRS for Non-publicly Accountable Entities],
  • the types of entities at which it is aimed,
  • what the IASB proposed in the ED and why,
  • what the IASB has not proposed, and why not,
  • how the IASB reached the conclusions that it did,
  • how the IASB plans to maintain the standard after it is issued,
  • comment letter responses to and field testing of the ED,
  • the IASB's re-deliberations,
  • the remaining steps leading to a final IFRS, and
  • plans for training materials.


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