The French securities regulator COB has issued a Bulletin recommending that French listed companies commence without delay their preparations for the transition to IAS by 2005 and reminding the companies that they will have to present comparative figures for 2003 and 2004.

The intention is to ensure consistent, high-quality auditing practices worldwide as a means of protecting the interests of cross-border investors and of promoting financial market stability. IFAC has created a Forum of Firms whose members must agree to conform to the Forum's Global Quality Standard, and to subject their assurance work to periodic external reviews. Click for (PDF 65k).

We have updated the Country-by-Country Information to reflect recent standards-setting activity in Australia, Brunei Darussalam, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Pakistan, Philippines, Singapore, and Vietnam.

It provides an overview of some of the differences between national accounting rules and 60 key accounting measures (including a few areas of disclosure) under International Accounting Standards. The study highlights instances where a country's rules at December 2000 would not allow, or would not require, the IAS accounting treatment.

The Q&A; are developed by a committee (chaired by John T. Smith of Deloitte & Touche) and exposed for public comment before final adoption.

We've added a page listing open IASC Comment Deadlines.

Click here for Details of the JWG Project and Links to the Electronic Version of the Draft.

We've added Links to the websites of around 100 professional accountancy organisations in 60 countries.

Click for Accounting Standard Setting in Europe (PDF 209k). Go to FEE Website.

Control is the principle in IAS 27 and most national standards. FASB has also been developing an exposure draft on consolidation of special purpose entities, a matter addressed in SIC 12. However, FASB has just announced that "there is not sufficient Board member support to proceed with either a final statement on consolidation policy, or an exposure draft on entities with specific limits on their powers (SPEs)".