This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

News

News default Image

Canadian securities regulators consider whether to allow IAS, US GAAP

19 Mar 2001

Canadian securities regulators have requested comment on whether they should allow Canadian and foreign companies to file using IAS or US GAAP instead of Canadian GAAP.

Currently, Canadian registrants must use Canadian GAAP. Foreign registrants may use IAS but then generally must reconcile to Canadian GAAP. Many Canadian companies already prepare US GAAP statements, in additional to Canadian GAAP, because they have US as well as Canadian listings. In Canada, securities markets are regulated provincially rather than nationally. The provincial regulators have published a joint request for comments that is available on this website [Executive Summary, 10k PDF and Discussion Paper, 90k PDF] or on the websites of the Ontario Securities Commission, the Alberta Securities Commission, and the British Columbia Securities Commission.
minecovr.jpg Image

Deloitte Touche Tohmatsu analysis of mining industry accounting issues

19 Mar 2001

Deloitte Touche Tohmatsu has published a booklet summarising and analysing the issues in IASC's Extractive Industries Issues Paper from the perspective of mining enterprises.

IASC has asked for comments on its 412-page issues paper by 30 June. Click to (PDF, 519k). Click here for information about IASC's Extractive Industries Project.
News default Image

IASC Trustees begin Advisory Council selection process

18 Mar 2001

The IASC Trustees are reviewing 175 applications and nominations for membership on the Standards Advisory Council.

SAC will have approximately 30 members and will provide a forum for organisations and individuals with an interest in international financial reporting to participate in the standard setting process. Members will be appointed for a renewable term of three years and have diverse geographic and functional backgrounds. SAC will normally meet three times each year to:
  • advise the Board on priorities in the Board's work,
  • inform the Board of the implications of proposed standards for users and preparers of financial statements, and
  • give other advice to the Board or to the Trustees.
The Trustees expect to complete the selection process for the Advisory Council by early April.
News default Image

IASB announces 2001 meeting schedule, agenda for first meeting

17 Mar 2001

IASB plans to meet for three days each month, except August, during 2001. The agenda for the 18-20 April meeting includes: Adoption of existing International Accounting Standards and SIC Interpretations Outline of Current Projects Financial Instruments, including IAS 39, impelementation guidance, and the JWG Project Present Value Insurance Contracts Reporting Financial Performance Improvements Project SIC Issues Planning: Board Agenda, Work Programme, May Meeting Agenda We have added a page for IASB Meeting Dates and the agenda of the upcoming meeting.

We will also be maintaining a Historical Record of IASB Meeting Agendas.
IASC Foundation (blue) Image

IASC Trustees incorporate non-profit foundation, activate new constitution

17 Mar 2001

Meeting on 8 March in Brussels, the Trustees activated Part B of IASC's Constitution and established a non-profit Delaware corporation, named the International Accounting Standards Committee Foundation, to oversee the IASB. .

Meeting on 8 March in Brussels, the Trustees activated Part B of IASC's Constitution and established a non-profit Delaware corporation, named the International Accounting Standards Committee Foundation, to oversee the IASB.

News default Image

IASB will relocate to new offices in London

16 Mar 2001

In early June, the IASB will relocate to new offices at 30 Cannon Street in the City of London. .

In early June, the IASB will relocate to new offices at 30 Cannon Street in the City of London.

News default Image

Foreign SEC issuers may have to file electronically by year end

10 Mar 2001

From a Speech by SEC Commissioner Isaac C.

Hunt, Jr.:

I believe we have fallen behind in the area of EDGAR. It has been almost five years since all filings by domestic public companies have been accessible through EDGAR, yet foreign issuers are still not required to file through EDGAR. Foreign issuers compete with domestic issuers to raise capital in our markets, their securities trade in our markets, and yet U.S. investors do not have the same access to material information filed by these issuers.... It is my hope that, by the end of this year, all Forms 3, 4, and 5 [insider securities sales], as well as all foreign issuer filings, will be filed through EDGAR and available on our website.

News default Image

Implementation guidance on six new Hong Kong standards modelled on IAS

09 Mar 2001

Deloitte Touche Tohmatsu has published a 46 page book, Implementing Hong Kong GAAP: The Challenges for 2001, that highlights, for preparers of financial statements, the potential impact of six new Standards that are closely modelled on the equiivalent IAS.

News default Image

SEC Chief Accountant writes on globalising accounting standards

09 Mar 2001

SEC Chief Accountant Lynn Turner has written an article in the Financial Times on The 'Best of Breed' Standards: "Globalising accounting standards challenges the profession to fulfil its obligation to investors". .

SEC Chief Accountant Lynn Turner has written an article in the Financial Times on The 'Best of Breed' Standards: "Globalising accounting standards challenges the profession to fulfil its obligation to investors".

News default Image

GAAP 2000 report now available in PDF format

08 Mar 2001

The GAAP 2000 report can now be downloaded as a single 285k PDF file.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.