The Council welcomed the efforts made by Commissioner Bolkestein on this important issue and invited him to pursue his work."

To allow our home page to load more quickly, we have moved our unofficial notes from the January 2004 IASB meeting to a Separate Page.

This 16-page newsletter presents the key features of each of the 13 revised standards, along with their impact on UK companies. The revised standards all apply to periods beginning on or after 1 January 2005, with earlier adoption encouraged. For most companies in Europe with December year ends, 1 January 2004 is the date of transition to IFRS.

Click here to Access Deloitte's IFRS e-Learning Material. Content on the following standards is now available: IAS 1, IAS 2, IAS 8, IAS 11, IAS 14, IAS 17, IAS 18, IAS 21, IAS 27, IAS 28, IAS 31, IAS 34, IAS 37, IAS 40, IAS 41, and the Framework for the Preparation and Presentation of Financial Statements. Modules on the remaining standards are currently being developed and will be released in phases throughout 2004.

To allow our home page to load more quickly, we have moved our unofficial notes from the January 2004 IASB meeting to a Separate Page.

Half-yearly reporting remains mandatory. Another rule adopted in April 2003 requires NextEconomy (technology) and NextPrime (more traditional) companies that are not already using IFRS to disclose, in half-yearly reports for financial years beginning on or after 1 January 2004, the effects of converting to IFRS in 2005. That rule has not been changed. Euronext is an amalgamation of the stock exchanges in Amsterdam, Brussels, Lisbon, and Paris.

No Board or IFRIC approval is needed for such corrections. The IASB will post editorial corrections as and when needed, but normally not more frequently than monthly. The Board has also posted tables listing all of the consequential amendments made by each of the fifteen standards revised in the Improvements project. Consequential amendments are changes to a standard that are caused by the issue, revision, or amendment of another standard.

Mr Collomb replaces Didier Pineau-Valencienne, whose term ended on 31 December 2003. Mr Collomb is currently chairman of Association Francaise des Entreprises Privees. He also serves as a director of Total, ATCO, and Vivendi Universal, and is a member of the Supervisory Board of Allianz and the Advisory Board of Unilever. Click for Press Release (PDF 18k).

To allow our home page to load more quickly, we have moved our unofficial notes from the January 2004 IASB meeting to a Separate Page.

At 31 December 2003, 57 accounting standards and 4 interpretations were in force. Also, exposure drafts of three standards and exposure drafts of four governmental accounting standards were outstanding at that date.