Sec. 132. Authority to suspend mark-to-market accounting.

"The Securities and Exchange Commission shall have the authority under the securities laws 12 (as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to suspend, by rule, regulation, or order, the application of Statement Number 157 of the Financial Accounting Standards Board for any issuer (as such term is defined in section 3(a)(8) of such Act) or with respect to any class or category of transaction if the Commission determines that is necessary or appropriate in the public interest and is consistent with the protection of investors."

Sec. 133. Study on mark-to-market accounting.

"The Securities and Exchange Commission, in consultation with the Board [of Governors of the Federal Reserve System] and the Secretary [of the Treasury], shall conduct a study on mark-to-market accounting standards as provided in Statement Number 157 of the Financial Accounting Standards Board, as such standards are applicable to financial institutions, including depository institutions. Such a study shall consider at a minimum —

• (1) the effects of such accounting standards on a financial institution's balance sheet;
• (2) the impacts of such accounting on bank failures in 2008;
• (3) the impact of such standards on the quality of financial information available to investors;
• (4) the process used by the Financial Accounting Standards Board in developing accounting standards;
• (5) the advisability and feasibility of modifications to such standards; and
• (6) alternative accounting standards to those provided in such Statement Number 157."

Beijing, China, 9 October 2008 (Public Session)

• Opening of Meeting
  • Report of Chairman of the Trustees
  • Approval of the July Minutes
• Constitution Review 2008 – First and Second Parts
  • Consideration of comments received to the Part I consultation document with final recommendations
  • Consideration of Part II of the Constitution Review consultation document and approval of approach
• Report of the Due Process Oversight Committee
  • Report of joint IASB-Due Process Oversight Committee meeting - 15 September 2008
  • Update on progress of the review of IASB working groups.
  • Update to the IASB Due Process Handbook
• Report on XBRL
• Report of the IASB Chairman
  • Report on progress of the Memorandum of Understanding and IASB Work Programme
  • Response to the credit crisis and the Financial Stability Forum report
  • Report on IFRS for Private Entities (SMEs)
  • Relationship with the International Valuation Standards Committee (IVSC)
• Report of the SAC Chairman
• Report on Publications and Educational Activities
  • Education plan
  • Publications and translations strategy
• Update on long term funding

IFRS ao seu Alcance:Um guia de bolso para aproximar sua empresa do novo padrão contábil global

Em outras regiões do mundo, como o Brasil, a Deloitte tem procurado apoiar, das mais diversas maneiras, as organizações sujeitas às regulamentações relacionadas ao IFRS.

Com esse objetivo, a Deloitte elaborou, no Brasil e no mundo, uma série de conteúdos técnicos sobre o IFRS. Entre esses conteúdos, está esta publicaçăo, 'IFRS ao seu alcance', cujo formato visa facilitar a consulta de profissionais e tomadores de decisão em suas jornadas rumo à adoção do padrão contábil internacional.

We recognise that accounting for employee benefits has been the subject of criticism for failing to provide a clear indication of the obligation of sponsoring entities towards their employees under long-term defined benefits plans and for the failure of IAS 19 to provide a proper model to account for certain types of plan (mainly certain cash balance plans). We share many of these concerns. However, while we appreciate the desire of the IASB to address the most pressing of these issues, we are concerned that the DP's proposals go beyond the changes that should be introduced via a short-term project. In particular, we strongly discourage the Board from proceeding with its proposal to redefine employee benefit schemes into defined benefits promises and contribution-based promises. As we explain in our detailed comments, the changes proposed would have far reaching consequences and would introduce inconsistencies in accounting for plans that are similar in substance. Further we note that contribution-based promises are not clearly defined and we are not sure we understand exactly what the measurement approach is for contribution-based promises as proposed in the DP and how it differs from other measurement approaches currently used in IFRS.

Finally, while we generally support the Board's proposal to eliminate the option to defer recognition of changes in defined benefit assets and obligation, the elimination of this approach cannot be addressed without proper resolution of the issues linked to the presentation of these changes. Accordingly, we believe that the implementation of this proposal should be timed to coincide with the revised Standard dealing with the presentation of financial performance.

By taking a proactive approach to understanding the impact of IFRS implementation on key business strategies, insurers can avoid the risk of being unprepared for the industry-wide shift while seizing on emerging opportunities for differentiation from competition.