Mr Ochi is currently Assistant General Manager, Financial Resources Management Group of Sumitomo Corporation. He is also a member of the IFRS Interpretations Committee, Secretary-General of the Nippon Keidanren (Japan Business Federation) Taskforce for early adoption of IFRS and an adviser to the Accounting Standards Board of Japan (ASBJ). Mr Ochi will relinquish existing roles upon joining the IASB.

Hans Hoogervorst, Chair-designate of the IASB, and Ian Mackintosh, Vice-Chair-designate of the IASB, will also begin their initial terms on 1 July 2011. The Trustees have also confirmed the reappointment of Philippe Danjou, to serve a second five-year term.

Click for IASB press release (PDF 35k).

Global publications

• Updated IASB Project Insights:
  • Insurance contracts (PDF 83k)

Deloitte (Canada)

• Canadian versions of Deloitte's global checklists that include 'consideration points' relating to key differences between Canadian GAAP and IFRSs that may be helpful for Canadian companies in assessing whether or not they meet the requirements of a specific IFRS:
  • 2010 IFRS Presentation and Disclosure Checklist - English (Macro Enabled) (761k)
  • 2010 IFRS Compliance Checklist - English (Macro Enabled)(1,482k)

Deloitte (Czech Republic)

• IFRS Presentation and Disclosure Checklist 2010 (link to Deloitte Czech Republic website)

The public roundtables are being held as follows:

• Asia: Tokyo, Japan (venue to be determined), late March
• Asia: Kuala Lumpur, Malaysia (Securities Commission Malaysia, 3 Persiaran Bukit Kiara, 50490 Kuala Lumpur), 22 March 2011
• Europe: Brussels, Belgium (Albert Borschette Conference Centre (CCAB), Rm AB-2A, 36, rue Froissart, 1000 Brussels), 3 March 2011
• The Americas: TBD

Please click for:

• IASB announcement (link to IASB website)
• Our earlier story about the IFRS Foundation Monitoring Board consultation process
• Consultative Report on the Review of the IFRS Foundation's Governance (PDF 344k, link to IOSCO website).

Comments are due 4 April 2011. Click for:

• IASB press release (link to IASB website)
• Draft Q&A 2011/01 Use of the IFRS for SMEs in parent's separate financial statements (link to IASB website)

We express the view that both the IFRS Foundation and the Monitoring Board should make an explicit statement in their governing documents that the primary purpose of general purpose financial reporting is to provide financial information about the reporting entity that is useful to capital market participants (i.e., existing and potential investors, lenders and other creditors) in making decisions about providing resources to the entity. Other users, including prudential regulators, may use general purpose financial reports, but those reports are not directed primarily to address their needs.

With respect to the governance of the IFRS Foundation, we support the three tier structure that is currently in place, but we would wish to see changes to both the Monitoring Board and the IFRS Foundation Trustees.

Click to download our comment letter on the IFRS Foundation Trustees' Public Consultation: Status of Trustees' Strategy Review (PDF 80k). All of our past comment letters are here.

• Comment letter on tentative agenda decision: IAS 37 Provisions, Contingent Liabilities and Contingent Assets – Inclusion of own credit risk in the discount rate (PDF 25k)
• Comment letter on tentative agenda decision: IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors – Application of the IAS 8 hierarchy (PDF 23k)

In both cases we agree with the decision not to add the issues to the agenda. Click here to view all of our past letters of comment.

• IFRS 9 Financial Instruments
• Amendments to IFRS 7 Financial Instruments: Disclosures
• Amendments to IAS 12 Deferred tax: Recovery of Underlying Assets
• Amendments to IFRS 1 Severe Hyperinflation and Removal of Fixed Dates for First-Time Adopters

You can always find the endorsement status report Here.

The survey is a part of research being undertaken by AASB staff into the accounting for intangible assets under the aegis of the National Standard Setters (NSS) group. The results of the survey will be compiled by AASB staff and a report of the findings is expected to be provided to the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) as input to any future reviews they may conduct in relation to IFRS 3 and IAS 38.

The deadline for submission is 17 June 2011 and it is anticipated that the questionnaire will take approximately 20-30 minutes to complete.