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IAS 39 agenda project page expanded

03 Mar 2004

We have created separate sections on our IAS 39 revisions agenda project page for the Macro Hedging Amendments and the Fair Value Option Amendments. .

We have created separate sections on our IAS 39 revisions agenda project page for the Macro Hedging Amendments and the Fair Value Option Amendments.

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Links to IFRS-related websites updated

02 Mar 2004

We have tested the links to IFRS-related websites on our comprehensive Links Page and fixed some broken ones.

If you find any errors or have an additional link to suggest, please Email Us.
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Sarbanes-Oxley – Deloitte's point of view

02 Mar 2004

Dealing with the mandates of the Sarbanes-Oxley Act has proved something of a scramble for public companies.

And not just US companies, because the 1,400 non-US SEC registrants have to comply, and so do the thousands of foreign subs of US registrants. In the course of assisting with hundreds of section 404 readiness and other Sarbanes-Oxley-related projects, we have learned numerous lessons and gained valuable insights. The Deloitte (USA) publication (PDF 517k) reveals Deloitte's point of view on Sarbanes-Oxley compliance. Compliance is just one step on the bridge to excellence. Corporate leaders who embrace the "spirit of the law" – strong ethics, good governance, reliable reporting – can get a re-energized company and reassured investors.
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Australian international convergence update

02 Mar 2004

We have posted a new Australian Accounting Alert: International Convergence Update.

Australia is in process of adopting national standards that are "largely consistent" with related IASs/IFRSs, though Australia has eliminated certain IFRS options, added some disclosures, and added some requirements for not-for-profit entities that are not consistent with IAS/IFRS. This Alert summarises 10 recent convergence standards.
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IASCF commercial director elected as XBRL chair

02 Mar 2004

XBRL International has elected Kurt Ramin, Commercial Director at the IASC Foundation, as Chair of its Steering Committee.

Click for Press Release. XBRL is a computer language for preparing Internet web pages in a way that makes the exchange of corporate financial information (including IFRS financial statements) easier and more reliable. Info about XBRL.
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Agenda project pages updated

01 Mar 2004

We have updated our agenda project pages to reflect the Board's decisions at its February 2004 meeting: Business Combinations Phase I; Business Combinations Phase II; Consolidation; Financial Instruments (macro hedging and fair value option); Insurance Contracts Phase I; Revenue Recognition; Short-term Convergence (ED 4, IAS 19, and IAS 20); and Small and Medium-sized Entities. .

We have updated our agenda project pages to reflect the Board's decisions at its February 2004 meeting:

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EU consultation on directors' remuneration including disclosures

01 Mar 2004

The European Commission has undertaken a Public Consultation on directors' remuneration, including the questions of (a) how each EU listed company should disclose in its annual accounts and annual report (or in the notes to the annual accounts) the remuneration policy for directors for the next financial year and (b) which elements, for example the performance-related elements of directors' remuneration, supplementary pensions, and contract policy, should be included in that disclosure? The IASB's recent amendments to IAS 24 include a requirement to disclose key management personnel compensation (amounts, but not policies) in total and subdivided into five categories.

IFRS 2 also requires some disclosures about equity compensation arrangements (though not policies). Link to the full Consultation Paper. Comments are due 12 April 2004.
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IAASB 2003 annual report is available

01 Mar 2004

The 2003 annual report of the International Auditing and Assurance Standards Board (IAASB) may be downloaded from IFAC's website.

Link to Download (PDF 293k).
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New Australian accounting alerts on financial instruments

28 Feb 2004

We have posted two new Australian Accounting Alerts: Financial Instruments: Recognition and Measurement and Financial Instruments: Disclosure and Presentation. .

We have posted two new Australian Accounting Alerts: Financial Instruments: Recognition and Measurement and Financial Instruments: Disclosure and Presentation.

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Summaries of standards updated

28 Feb 2004

We have now completed updating our Summaries of Standards to reflect all of the revised IASs published in late December 2003. These are IASs 1, 2, 8, 15, 16, 17, 21, 24, 27, 28, 31, 32, 33, 39, and 40. .

We have now completed updating our Summaries of Standards to reflect all of the revised IASs published in late December 2003. These are IASs 1, 2, 8, 15, 16, 17, 21, 24, 27, 28, 31, 32, 33, 39, and 40.

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