Related news

• IAS 32 amendment endorsed for use in Europe

• 28 Dec 2009

• The European Commission has completed the process of endorsing, for use in Europe, the October 2009 amendment to IAS 32 Financial Instruments: Presentation – Classification of Rights Issues.

• Revised financial reporting guidelines from CEBS

• 15 Dec 2009

• The Committee of European Banking Supervisors has published revised guidelines on financial reporting (FINREPrev2).

• IFRS Kézikönyv 2009

• 10 Dec 2009

• Deloitte Hungary has published IFRS Kézikönyv 2009 – the Hungarian language translation of IFRSs in Your Pocket 2009. This 124-page publication includes all of the information in the English language edition.

• EU and other IFRS 'enforcers' meet in Paris

• 08 Dec 2009

• At a conference organised by the Committee of European Securities Regulators (CESR), securities market regulators from 33 countries, representatives from the International Accountings Standards Board, and auditors met at CESR's offices in Paris on 3 and 4 December 2009 to discuss enforcement of IFRSs.

• Michel Barnier to be new EU Internal Market Commissioner

• 29 Nov 2009

• José Manuel Barroso, President of the European Commission, has announced that Michel Barnier of France will be the next European Commissioner for Internal Market and Services, succeeding Charlie McCreevy.

• IFRIC 17 endorsed for use in Europe

• 27 Nov 2009

• The European Commission has completed the process of endorsing, for use in Europe, the November 2008 restructured version of IFRIC 17 Distributions of Non-cash Assets to Owners.

• Revised IFRS 1 endorsed for use in Europe

• 26 Nov 2009

• The European Commission has completed the process of endorsing, for use in Europe, the November 2008 restructured version of IFRS 1 First-time Adoption of IFRSs.

• Exchange of letters on IFRS 9

• 23 Nov 2009

• The IASB has Posted on its website an exchange of letters between the Trustees of the IASC Foundation and the European Commission regarding the Commission's concerns about IFRS 9 and its decision to postpone considering the Standard for endorsement.

• European consultation on IFRS for SMEs

• 18 Nov 2009

• The European Commission has launched a consultation on the International Financial Reporting Standard for Small and Medium-sized Entities.

• EC letter to IASB on IFRS 9

• 14 Nov 2009

• The European Commission has posted on its website a letter from Jorgen Holmquist, Director-General of the Internal Markets and Services Directorate, to IASB Chairman Sir David Tweedie, indicating that the Commission has concerns about IFRS 9 and encouraging the IASB to 'revisit the key elements of its proposal having a more direct impact on the right dividing line between 'fair value' and 'cost' accounting and on financial stability (in areas such as the key role of business model, the scope of the OCI category and the recycling of gains/losses, and the prohibition of bifurcation of embedded derivatives)'.

• Update on IFRS endorsements in Europe

• 14 Nov 2009

• At its meeting on 11 November 2009, the European Commission's Accounting Regulatory Committee voted in favour of the adoption of the following IFRSs for use in the European Union: Annual improvements 2009 Amendments to IAS 32 Classification of Rights Issues Amendments to IFRS 2 Group Cash-settled Share-based Payment Transactions ARC also decided to postpone its consideration of endorsement of IFRS 9. EFRAG has updated its endorsement status report to reflect the ARC recommendations.

• We encourage European support of IFRS 9

• 10 Nov 2009

• In a Letter to the European Commission, Deloitte Touche Tohmatsu has recommended the endorsement of IFRS 9 Financial Instruments, relating to the classification and measurement of financial instruments, for use in the European Union.

• We support endorsement of IFRS 9 in Europe

• 08 Nov 2009

• The European member firms of Deloitte Touche Tohmatsu have written to the European Financial Reporting Advisory Group (EFRAG) in support of EFRAG's tentative conclusion to recommend that IASB's new principles for classifying and measuring financial instruments, which the IASB is expected to release shortly as IFRS 9 Financial Instruments, should be adopted for use in the European Union.

• CESR finds noncompliance with IFRS disclosures

• 03 Nov 2009

• The Committee of European Securities Regulators (CESR) has analysed the 2008 financial statements of 96 European listed banks and insurers, including 22 companies from the FTSE Eurotop 100 index, to assess compliance with the disclosure requirements of IFRS 7 Financial Instruments: Disclosures.

• Responses to EC review of accounting directives

• 29 Oct 2009

• The European Commission has published a report on the approximately 100 responses received to the Commission's consultation paper on review of the Accounting Directives: Cutting Accounting Burden for Small Business–Review of the Accounting Directives.

• CEBS consults on bank disclosures

• 11 Oct 2009

• The Committee of European Banking Supervisors (CEBS) has published a consultation paper proposing disclosure guidelines intended to help financial institutions improve their risk disclosures in the wake of the financial crisis.

• IASB Chairman meets with EU Parliament committee

• 29 Sep 2009

• Sir David Tweedie, Chairman of the International Accounting Standards Board, met with the Economic and Monetary Affairs Committee of the European Parliament on 28 September 2009 to discuss the IASB's response to issues arising from the financial crisis.

• Proposed financial supervision reforms in EU

• 24 Sep 2009

• The European Commission has proposed legislation intended to significantly strengthen the supervision of the financial sector in Europe.

• EU memo for G20 addresses IFRSs

• 17 Sep 2009

• The European Commission has released a memorandum in conjunction with the upcoming meeting of G20 leaders titled European Commission Calls for United EU position for G20 Summit in Pittsburgh.

• 'Eligible hedged items' endorsed in the EU

• 16 Sep 2009

• The European Union has endorsed the amendment to IAS 39 Financial Instruments: Recognition and Measurement titled Eligible Hedged Items for use in the European Union.

• FEE urges new approach to setting global standards

• 18 Jul 2009

• FEE (Federation des Experts Comptables Europeens – Federation of European Accountants) has issued a policy statement on financial reporting confirming its views that a single set of global accounting standards is needed, but concluding that convergence should no longer be a key driver in the financial reporting debate.

• ARC supports endorsing five IFRSs

• 17 Jul 2009

• At the meeting of the European Commission's Accounting Regulatory Committee (ARC) yesterday, all EU Member States voted in favour of Commission Regulations endorsing the following standards for use in Europe:

• Commissioner McCreevy comments on accounting and financial crisis

• 29 Jun 2009

• Charlie McCreevy, the EU Commissioner for Internal Market and Services, spoke on issues relating to the economic and financial crisis before the Institute of Chartered Accountants in Ireland in Dublin on 26 June 2009.

• G8 agree on a set of financial regulatory principles

• 14 Jun 2009

• Meeting in Lecce, Italy on 12-13 June 2009, the Group of Eight (G8) finance ministers agreed on a set of common principles and standards for propriety, integrity and transparency aimed at stabilising the world's financial markets.

• IASB Chairman meets with ECOFIN

• 10 Jun 2009

• IASB Chairman Sir David Tweedie met yesterday with the Economic and Financial Affairs Council (ECOFIN) of the European Union to discuss how the IASB is responding to issues arising from the financial crisis.