We have moved our summaries of the September IASB Board meeting to a Combined Summary Page.

We have moved our summaries of the September IASB Board meeting to a Combined Summary Page.

Smith, Partner, Deloitte & Touche (USA), as a part-time member of the International Accounting Standards Board beginning on 1 October 2002. Mr Smith fills the vacancy left by Robert H. Herz, who resigned in June 2002 to become chairman of the US Financial Accounting Standards Board. Mr. Smith currently serves as director of accounting policies for Deloitte & Touche, where he provides accounting consultation to the Firm's national office and client service personnel, and oversees the development of guidance on accounting matters. In that role, he has established himself as a leading expert on standard-setting issues in general, and accounting issues related to financial instruments in particular. He is responsible for preparing his firm's responses to accounting standard-setting initiatives in the United States and as a member of the Deloitte Touche Tohmatsu international accounting committee he participates in responding to IASB standard-setting initiatives. As a part-time member of the IASB, Mr. Smith will remain a partner of Deloitte & Touche. He has participated in the activities of the IASB and its predecessor, the International Accounting Standards Committee. He is currently a member of the International Financial Reporting Interpretations Committee, from which he will resign, and has served as chairman of the IAS 39 (Financial Instruments) Implementation Guidance Committee. He will serve a five-year term expiring on 30 June 2007.

We have moved our summaries of the September IASB Board meeting to a Combined Summary Page.

The European Commission has published the Final Regulations on IAS as approved by the European Parliament (PDF 114k).

We have posted the Deloitte Touche Tohmatsu to IASB on the Improvements Exposure Draft (PDF 171k).

Hashimoto is former chairman of Fuji Bank and a director of several Japanese and international business organisations. Press Release (PDF 19k).

Regarding international accounting standards, the FSF concluded:

Accounting treatment of consolidated entities, revenue recognition and equity-based remuneration has been a key issue in the current undermining of confidence. The FSF calls upon national and international standard setters to accelerate their efforts at developing more comparable, accurate and transparent ways of accounting for these in financial statements; to improve international accounting standards; and to bring about greater international convergence on principles-based standards.

 

The International Auditing and Assurance Standards Board has agreed that all of its final pronouncements (International Standards on Auditing and International Auditing Practice Statements) will be available without charge electronically through its Website effective 1 January 2003. Click for More Information about the IAASB.

The IASB's IAS 39 implementation guidance would also be adopted as Hong Kong guidance. For details, see Hong Kong GAAP Update No. 18, Proposed SSAPs on Financial Instruments.