In February and March 2012 the IASB and the FASB will hold round-table discussions on their proposals for investment entities. Round tables will be held in Toronto, ON, Canada; London, UK; Norwalk, CT, USA and Kuala Lumpur, Malaysia. An audio recording of the round-table discussions will be made available on the website shortly after each [...]
The Institute of Internal Auditors’ (IIA’s) Audit Executive Center recently hosted three roundtables aimed at seeking insight from chief audit executives (CAEs) on proposed updates, revisions, and enhancements to the 1992 Committee of Sponsoring Organizations of the Treadway Commission’s (COSO’s) Internal Control — Integrated Framework (Framework), which was released for public comment in December 2011. [...]
Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) met on February 6 and 7, 2012, in Norwalk, Connecticut. This meeting was the twelfth in a series of discussions between the FASB and the ASBJ. The ASBJ supports the efforts by the FASB and the International Accounting Standards [...]
The IFRS Foundation Trustees found that fake advertising material including a conference brochure and email alerts is being circulated purporting to be advertising an IFRS conference in Malaysia on 27-30 March 2012. “Please note that this material, from a company called Analytics Secure Associates, is entirely unrelated to the legitimate IFRS Foundation Conference that takes [...]
The Public Company Accounting Oversight Board will host a public meeting to obtain further input on ways to enhance auditor independence, objectivity, and professional skepticism, including through mandatory rotation, or term limits, for audit firms. The meeting will be held over two days, Wednesday and Thursday, March 21- 22, 2012. The Board issued a concept [...]
Issues such as geopolitical upheaval, the Fukushima nuclear power plant disaster, high oil prices, as well as environmental and safety concerns have all provided real challenges in the period under review. On a more positive note, shale gas developments have surged ahead in China, Poland and Argentina. Dale Nijoka, Ernst & Young’s Global Oil & [...]
The Trustees’ Due Process Oversight Committee (DPOC) has announced the conclusions of their meeting in Singapore in January 2012. Post-implementation reviews The DPOC reviewed staff papers regarding how the IASB intends to conduct post-implementation reviews. The reviews, introduced following the Trustees’ second constitution review, are a mandatory due process step for all new IFRSs and [...]
The IASB and the FASB have a joint working group for the Leases project to seek the views of both users and preparers of financial statements as the project progresses. The Leases Working Group met on Tuesday 24th January 2012 between 14:00- 18:30 (UK time) at both the IFRS and FASB offices. The Leases Working [...]
The Trustees of the IFRS Foundation, the body responsible for the governance and oversight of the International Accounting Standards Board (IASB), have announced the conclusions of their meeting in Singapore on 12 January 2012. Introduction by Michel Prada, Chairman of the Trustees The Trustees’ meeting was chaired by Michel Prada, who became Chairman of the [...]
The Securities and Exchange Commission announced that its Advisory Committee on Small and Emerging Companies will meet on Wednesday, February 1, beginning at 10 a.m. EST. The meeting will be held at the SEC’s headquarters at 100 F Street, N.E., Washington, D.C., and is open to the public, with seating on a first-come, first-served basis. [...]
The SME Working Group of the European Financial Reporting Advisory Group (EFRAG) met with IASB Board member Paul Pacter in Brussels to discuss various matters relating to the IFRS for SMEs. Mr Pacter updated the Group on implementation of the standard. Among the main topics discussed during the meeting were the IASB’s program for publishing [...]
The IFRS Foundation has announced the following framework-based IFRS teaching workshops for 2012: 24 February – Phoenix Arizona, USA at the AAA International Accounting Section Mid-year Meeting 18 April – Brighton, UK at the BAFA Conference 9–12 May – Ljubljana, Slovenia at the European Accounting Association Annual Meeting 2–4 July – Melbourne, Australia at the [...]
A five-day IFRS for SMEs train the trainers workshop was held in Almaty, Kazakhstan on 9–13 January 2012. There were 100 participants, mainly from Kazakhstan with a few Eurasian Council of Certified Accountants and Auditors (ECCAA) participants coming from Kyrgyzstan and Uzbekistan. The event was sponsored by the World Bank together with the Ministry of [...]
Recent government statistics show that the Internal Revenue Service has increased its scrutiny of tax returns and tax professionals, particularly where small business owners or high-wealth individuals are concerned. One IRS priority is to ferret out undeclared interests in foreign financial accounts and assets, which can lead to civil or criminal penalties for taxpayers—not to [...]
More than 120 representatives from over 50 countries will convene at the Lalit Hotel in New Delhi, India February 5-8, 2012 for The IIA’s annual Global Council. Coordinated by IIA Global Headquarters and hosted by the IIA’s Indian institute (IIA-India), Global Council brings together top leaders of The IIA from around the world to discuss [...]
The International Accounting Standards Board (IASB) is meeting at the IASB office in London UK from 25 to 27 January 2012. Webcast registration for this meeting is now open. Would-be paticipants may register and view all agenda papers at the IASB website. You can register to receive email alerts when observer notes are posted on [...]
In February and March 2012 the IASB and the FASB will hold round-table discussions on their proposals for investment entities. Round tables will be held in Toronto, ON, Canada; London, UK; Norwalk, CT, USA and Kuala Lumpur, Malaysia. In the exposure draft Investment Entities, the IASB is proposing to introduce an exception to the control [...]
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), met with representatives of the Singapore Accounting Standards Council (ASC) and the local business community on 12 January 2012. The participants exchanged views on the work of the Trustees and the IASB to establish International Financial [...]
The International Accounting Standards Board (IASB) is meeting at the IASB office in London UK from 25 to 27 January 2012. Agenda papers for this meeting are now available online. The public can register to receive email alerts when observer notes are posted on this website for IASB meetings, plus any other important information that [...]
The IASB and the FASB have a joint working group for the Leases project to seek the views of both users and preparers of financial statements as the project progresses. The next Leases Working Group meeting will take place on Tuesday 24th January 2012 between 14:00- 18:30 (UK time) at both the IFRS and FASB [...]
