March

Deloitte IFRS newsletter in Chinese

29 Mar 2010

Deloitte China has published the Chinese translation of the following IAS Plus Update newsletter:

IASB webcast on leases

28 Mar 2010

On 31 March 2010, the IASB will host a live webcast on the Board's project on accounting for leases.

The IASB plans to issue an exposure draft (ED) of a proposed replacement for IAS 17 in the second quarter of 2010, and a final standard in mid-2011. The ED is expected to propose that all assets (property rights) and liabilities arising under lease contracts should be recognised in the balance sheet. There is no charge to participate in the webcast, but registration is required. Participants will have an opportunity to submit written questions during the webcast.
  • Webcast Topic: The IASB's project on accounting for lease contracts
  • Date and Time: Wednesday, 31 March 2010, 10:00-11:00am London time, and again at 16:00-17:00pm London time
  • More Information and Registration on IASB Website: Click Here
  • IAS Plus Project Page: Leases

 

IAS Plus is CPA Journal's 'Website of the Month'

27 Mar 2010

The March 2010 issue of The CPA Journal (United States) reviews IAS Plus as its 'Website of the Month'.

The review, by Prof. Susan B Anders, describes in detail what is available on IAS Plus and how the site is organised. The CPA Journal is copyrighted by the New York State Society of CPAs, and we are grateful to the editors and the author for giving us permission to post the article on IAS Plus. Click to download Website of the Month: IAS Plus (PDF 52k), by Susan B Anders. Incidentally, the cover story of the March 2010 issue (available on line) is 'IFRS Guidance: Preparing for the Transition'.

 

ACCA-Deloitte narrative reporting survey – seeking input

27 Mar 2010

Next month, ACCA (the Association of Chartered Certified Accountants) and Deloitte LLP will be embarking on a joint international survey, exploring current and anticipated future challenges in narrative reporting (that is the information in annual reports outside the audited financial statements).

The survey will:
  • investigate the critical challenges, principally for CFOs of publicly accountable entities, in preparing narrative disclosures; and
  • identify likely trends in narrative reporting in different reporting environments around the world.
The survey will be carried out in Australia, China, Malaysia, Singapore, Switzerland, UAE, UK, USA, and certain Central African countries. Preparers in those countries are invited to register their interest in being part of this new study by visiting: www.accaglobal.com/narrativereportingsurvey. Interested parties will be invited to participate, confidentially, in the survey when it is launched on 15 April 2010. In return for participation, all survey respondents will receive a complimentary copy of the final report which is scheduled for publication in September 2010.

 

Deloitte IFRS newsletter in Spanish

26 Mar 2010

Deloitte (Colombia) has published the Spanish translation of the following IFRS publication:

IASC Foundation Trustees subgroup meeting

26 Mar 2010

On Monday 29 March 2010, subgroups of the Trustees of the IASC Foundation (IASB) and the US Financial Accounting Foundation (FASB) responsible for monitoring IASB-FASB convergence activities will meet at the IASC Foundation offices, 30 Cannon Street, London from 15:15 to 17:00pm.

The meeting will be webcast. More Information on the IASB's website.

 

EC will hold assessment meetings on IFRS 9

26 Mar 2010

The European Commission will hold four 'technical assessment meetings' to discuss the first phase of IFRS 9 dealing with classification and measurement of financial assets.

At the meetings, representatives of four industries are invited to present an industry perspective. Click for EU Announcement (PDF 239k). The meetings are as follows (all at the Internal Market Directorate's offices in Brussels):
  • Insurance: Tuesday 20 April 2010, 14:00-17:30pm
  • Banking: Thursday 22 April 2010, 09:30-13:00pm
  • Accounting, auditing, and public authorities: Friday 23 April 2010, 09:30-13:00pm
  • Investors and other stakeholders: Monday 26 April 2010, 14:00-17:30pm

 

IASC Foundation Trustees meeting

26 Mar 2010

The Trustees of the IASC Foundation will meet in London on 30 and 31 March 2010. The public portion of the meeting will take place from 11:30am to 17:00pm on Tuesday 30 March.

The meeting is open to public observation and will be webcast. The agenda for the public meeting is below. More Information on the IASB's website.

Agenda for the Public Portion of the IASC Foundation Trustees Meeting, 30 March 2010

  • Review of the status of IASB-FASB convergence efforts
  • Report of the IASB Chairman on other IASB work
  • Report of the Due Process Oversight Committee
  • Report of the IFRS Advisory Council Chairman
  • Proposed process for Strategy Review and Review of the IFRS Advisory Council
  • Status of financing efforts

 

Heads Up on reporting entity exposure draft

26 Mar 2010

On 11 March 2010, the IASB and FASB jointly published for comment an exposure draft (ED) on the reporting entity concept.

The proposals form part of a Joint Project to develop a common and improved conceptual framework that provides the basis for developing future accounting standards. The latest Heads Up newsletter from Deloitte United States discusses the ED. Click to download the Heads Up Newsletter (PDF 95k).

 

Updated EFRAG 'endorsement status report'

26 Mar 2010

The European Union has endorsed the 2009 Improvements to IFRSs and Amendments to IFRS 2 Share-based Payment by publication in the Official Journal on 24 March 2010. Therefore, the European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

Click to download the Endorsement Status Report as of 25 March 2010 (PDF 116k). Currently, six IASB pronouncements await endorsement action. You can always find the endorsement status report Here.

 

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