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  • International Auditing and Assurance Standards Board (IAASB)
    of the financial statement audit IFAC announces 2014 editions of various handbooks 20 Oct 2014 The International Federation of Accountants IFAC has announced the availability of the 2014 editions of the handbooks from the International Auditing and Assurance Standards Board IAASB International Accounting Education Standards Board IAESB International Ethics Standards Board for Accountants IESBA and International Public Sector Accounting Standards Board IPSASB UNCTAD report on human capacity development in accounting and corporate reporting 23 May 2014 The United Nations Conference on Trade and Development UNCTAD has publicly released International Accounting and Reporting Issues 2013 Review The document provides a review of trends recent developments and challenges as well as country case studies on human capacity development in the areas of accounting and corporate reporting Proposed guidance on auditing financial statement disclosures 16 May 2014 The International Auditing and Assurance Standards Board IAASB has released an exposure draft of proposed changes to various International Standards on Auditing ISAs to better deal with disclosures in financial statement audits The exposure draft seeks to achieve an appropriate focus by auditors on disclosures and encourage earlier auditor attention on them during the audit process including disclosures where the information is not derived from the accounting system IAASB re exposes proposals on an auditor s responsibilities relating to other information 23 Apr 2014 The International Auditing and Assurance Standards Board IAASB has published a revised exposure draft of a revised International Standard on Auditing ISA dealing with an auditor s responsibilities relating to other information The revised exposure draft responds to significant concerns raised in response to the IAASB s original proposals New framework on audit quality 19 Feb 2014 The International Auditing and Assurance Standards Board IAASB has published a framework on audit quality which aims to raise awareness of the key elements of audit quality encourage key stakeholders to do more to increase audit quality and facilitate greater dialogue between key stakeholders on the topic IFAC calls for nominations for its boards 20 Jan 2014 The International Federation of Accountants IFAC has issued a call for nominations to fill a total of 22 vacancies on its various standard setting boards which will arise in 2015 IAASB releases its proposed strategy and work plan 20 Dec 2013 The International Auditing and Assurance Standards Board IAASB has released a consultation paper outlining its proposed strategy for the five year period 2015 2019 and work programme for the 2015 2016 period The paper outlines three key strategic objectives around financial statement audits global developments and collaboration and puts forward a work plan that deploys the IAASB s resources in a way that has the greatest potential to serve the public interest including a focus on the audits of financial institutions IAASB issues standard on a broad range of assurance engagements 10 Dec 2013 The International Auditing and Assurance Standards Board IAASB has issued a revised standard on assurance engagements other than audits or reviews of historical information such as financial statements The revised standard would apply

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/iaasb (2016-02-10)
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  • International Accounting Education Standards Board (IAESB)
    The United Nations Conference on Trade and Development UNCTAD has publicly released International Accounting and Reporting Issues 2013 Review The document provides a review of trends recent developments and challenges as well as country case studies on human capacity development in the areas of accounting and corporate reporting IAESB paper seeks to assist with accountant examinations 14 Feb 2014 The International Accounting Education Standards Board IAESB has released a revised International Education Information Paper which is designed to help professional organisations conduct written examinations of accountants seeking qualification Three revised professional education standards issued 20 Jan 2014 The International Accounting Education Standards Board IAESB has published three revised International Education Standards IESs dealing with the requirements for initial professional development in the areas of technical competence professional skills and professional values ethics and attitudes IFAC calls for nominations for its boards 20 Jan 2014 The International Federation of Accountants IFAC has issued a call for nominations to fill a total of 22 vacancies on its various standard setting boards which will arise in 2015 IAESB re exposes proposals on audit engagement partner competence 15 Dec 2013 The International Accounting Education Standards Board IAESB has published a revised exposure draft dealing with the professional competence of audit engagement partners The revised exposure draft is a substantial revision of earlier proposals in response to constituent feedback Conclusions on governance and strategy review of IFAC member bodies 02 Apr 2013 The Monitoring Group and Public Interest Oversight Board PIOB have published documents in response to their March 2012 consultation documents on the governance of various organisations operating under the auspices of the International Federation of Accountants IFAC The reports outline a number of recommendations in relation to the governance and strategy of the various IFAC bodies but does not make any recommendations on the governance of the International Public Sector Accounting Standards Board IPSASB The Monitoring Group has formally taken the question of IPSASB oversight onto its agenda noting its own composition and that of the PIOB currently are not appropriate to the needs of stakeholders in public sector accounting standards Revised standard on practical experience requirements 14 Mar 2013 The International Accounting Education Standards Board IAESB has released a revised version of International Education Standard IES 5 Initial Professional Development Practical Experience Revised education standard on entry requirements issued 08 Feb 2013 The International Accounting Education Standards Board IAESB has released a revised International Education Standard IES dealing with entry requirements into profession development programmes IFAC calls for nominations for 2014 16 Jan 2013 The Nomination Committee of the International Federation of Accountants IFAC has issued a formal call for nominations to fill available positions on IFAC s various boards and committees Revised standard on the assessment of professional competence 19 Nov 2012 The International Accounting Education Standards Board IAESB has released a revised International Education Standard IES on the how professional competence of an aspiring professional accountant should be assessed IAESB exposes proposed standard on professional development for audit engagement partners

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/iaesb (2016-02-10)
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  • International Ethics Standards Board for Accountants (IESBA)
    Ethics for Professional Accountants the Code The proposals seek to provide better guidance and clarification around the independence of auditors in relation to the provision of non audit services IFAC calls for nominations for its boards 20 Jan 2014 The International Federation of Accountants IFAC has issued a call for nominations to fill a total of 22 vacancies on its various standard setting boards which will arise in 2015 IESBA seeks input on its strategy 18 Dec 2013 The International Ethics Standards Board for Accountants IESBA has released a consultation paper on its strategy and work plan for the 2014 2018 period The consultation paper shows the IESBA s plans in developing the Code of Ethics for Professional Accountants Code to ensure it remains relevant and responds to global developments Outcomes from the thirtieth ISAR session 11 Nov 2013 The thirtieth session of the United Nations Conference on Trade and Development UNCTAD Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting ISAR has held in Geneva on 6 8 November 2013 The meeting focused on the role sound corporate reporting infrastructure plays in promoting investment financial stability and development The main agenda items were country feedback on the Accounting Development Tool being developed by ISAR human resources development challenges in achieving high quality corporate reporting and a review of good practices in sustainability reporting IESBA revises ethics code 24 Sep 2013 The International Ethics Standards Board for Accountants IESBA has amended its Code of Ethics for Professional Accountants Code to change to the definition of those charged with governance to more closely align it with the definition used in International Standards on Auditing ISAs Conclusions on governance and strategy review of IFAC member bodies 02 Apr 2013 The Monitoring Group and Public Interest Oversight Board PIOB have published documents in response to their March 2012 consultation documents on the governance of various organisations operating under the auspices of the International Federation of Accountants IFAC The reports outline a number of recommendations in relation to the governance and strategy of the various IFAC bodies but does not make any recommendations on the governance of the International Public Sector Accounting Standards Board IPSASB The Monitoring Group has formally taken the question of IPSASB oversight onto its agenda noting its own composition and that of the PIOB currently are not appropriate to the needs of stakeholders in public sector accounting standards IESBA revises ethics code 20 Mar 2013 The International Ethics Standards Board for Accountants IESBA has amended its Code of Ethics for Professional Accountants Code to address conflicts of interest breaches of a requirement of the Code and amend the definition of the term engagement team IAASB issues revised guidance on using internal auditors 20 Mar 2013 The International Auditing and Assurance Standards Board IAASB has issued new requirements and guidance that address the auditor s responsibilities if using internal auditors to provide direct assistance under the direction supervision and review of the external auditor for purposes of the

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/iesba (2016-02-10)
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  • Public Interest Oversight Board (PIOB)
    18 Sep 2015 The Public Interest Oversight Board PIOB which oversees the auditing and assurance ethics and education standard setting activities of the International Federation of Accountants IFAC has published Standard Setting in the Public Interest A Description of the Model EU Regulation regarding the financing of IFRS Foundation EFRAG and PIOB published in the Official Journal 08 Apr 2014 Regulation EU No 258 2014 of the European Parliament and of the Council of 3 April 2014 establishing a Union programme to support specific activities in the field of financial reporting and auditing for the period of 2014 20 has been published in the Official Journal of the European Union Trustees welcome EU decision to continue to contribute to the global funding of the IFRS Foundation 19 Mar 2014 The Trustees of the IFRS Foundation have issued a press release welcoming last week s decision by the European Parliament to continue the EU co financing of the International Financial Reporting Standards IFRS Foundation the European Financial Reporting Advisory Group EFRAG and the Public Interest Oversight Board PIOB European Parliament votes to back financing of IFRS Foundation EFRAG and PIOB 13 Mar 2014 The European Parliament has voted in its plenary session in Strasbourg today to back the EU co financing of the International Financial Reporting Standards IFRS Foundation the European Financial Reporting Advisory Group EFRAG and the Public Interest Oversight Board PIOB Agreement on the EU financing of IFRS Foundation EFRAG and PIOB 04 Dec 2013 Trilogue agreement has been reached by the three parties involved the European Parliament the Council and the Commission on the EU co financing of the International Financial Reporting Standards IFRS Foundation the European Financial Reporting Advisory Group EFRAG and the Public Interest Oversight Board PIOB Conclusions on governance and strategy review of IFAC member bodies 02 Apr 2013 The Monitoring Group and Public Interest Oversight Board PIOB have published documents in response to their March 2012 consultation documents on the governance of various organisations operating under the auspices of the International Federation of Accountants IFAC The reports outline a number of recommendations in relation to the governance and strategy of the various IFAC bodies but does not make any recommendations on the governance of the International Public Sector Accounting Standards Board IPSASB The Monitoring Group has formally taken the question of IPSASB oversight onto its agenda noting its own composition and that of the PIOB currently are not appropriate to the needs of stakeholders in public sector accounting standards IFAC responds to Monitoring Group consultation 08 May 2012 The International Federation of Accountants IFAC has publicly released its response to the Monitoring Group public consultation on the governance of the Monitoring Group the Public Interest Oversight Board PIOB and the standard setting boards and compliance advisory panel operating under the auspices of IFAC Ethics standards board finalises priorities 17 Oct 2011 The International Ethics Standards Board for Accountants IESBA has released its 2011 2012 IESBA Strategy and Work Plan which sets the direction and

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/piob (2016-02-10)
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  • International Forum of Accounting Standard Setters (IFASS, formerly NSS)
    meeting which is being held in London on 29 30 September 2014 AOSSG report considers standard setting capacity in Nepal 08 Jul 2014 The Asian Oceanian Standard Setters Group AOSSG has released a report providing a review of Nepal s standard setting process as part of its initiative to build regional standard setting capacity by establishing a pilot IFRS Center of Excellence in Nepal The report outlines a number of recommendations to assist the Accounting Standards Board ASB of Nepal in building its capacity to adopt and facilitate implementation of International Financial Reporting Standards IFRS issued by the International Accounting Standards Board IASB IASB and IFASS agree on Charter 07 May 2014 The International Accounting Standards Board IASB and the accounting standard setters that participate in the International Forum of Accounting Standard Setters IFASS have agreed to a Charter that clarifies the IASB s working relationship with other accounting standard setters Report from recent IFASS meeting released 29 Apr 2014 A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters IFASS held in New Delhi on 6 7 March 2014 8th IFRS Regional Policy Forum New Frontiers 18 Feb 2014 The 8th IFRS Regional Policy Forum will be hosted by Institute of Chartered Accountants of India ICAI on 8 9 March 2014 in New Delhi following the meeting of the International Forum of Accounting Standard Setters IFASS The policy forums are designed to be one of the key platforms in the Asian Oceanian region for stakeholders including regulators to discuss IFRS related policy issues The theme of the eighth forum will be Financial Reporting New Frontiers Report from recent IFASS meeting released 12 Dec 2013 A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters IFASS held in Brussels on 19 20 September 2013 Report from recent IFASS meeting released 30 Sep 2013 A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters IFASS held in São Paulo on 17 18 April 2013 Hans Hoogervorst talks collaboration at the WSS conference 23 Sep 2013 IASB Chairman Hans Hoogervorst gave a speech today at the World Standard Setters WSS Conference on strengthening institutional relationships He discussed the role that collaboration plays in the current and future success of IFRS Report from recent IFASS meeting released 17 Jan 2013 A report has been issued summarising the discussions at a meeting of the International Forum of Accounting Standard Setters IFASS formerly the NSS held in Zurich on 22 23 October 2012 The meeting covered a broad range of topics including the future relationships between the IASB and regional and national standard setters topical issues in financial reporting reports from regional groups and administrative matters Meeting documentation pack for the WSS meeting 25 Oct 2012 The IASB has posted to its website a meeting documentation pack for the the annual World Standard Setters WSS meeting which is

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/national-standard-setters-nss (2016-02-10)
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  • International Valuation Standards Council (IVSC)
    valuation that are relevant to financial reporting through regular exchanges of information meetings and the IVSC staff s outreach processes for researching new issues Consider the IVSC s comments in the normal course of its work in developing IFRSs and financial reporting in general containing fair value measures and providing feedback as appropriate Provide the IVSC s staff or members with the opportunity to be included in the IASB s advisory and consultative groups committees and task forces as appropriate recognising that the IFRS Foundation determines the compositions of these groups on a case by case basis Inform the IVSC through its staff its working groups or other appropriate IVSC body when the IASB becomes aware of diversity in practice concerning fair value measurement in financial reports Commitments by both parties Keep abreast of developments inform each other and exchange views about emerging and divergent practice issues and research in determining fair value for the purposes of financial reporting under IFRS Organise as and where necessary discussion sessions for the staff or members of both parties in order to highlight any relevant issues that may impact upon their work and the standards they publish The full statement of protocols is available on the IVSC website Contact information International Valuation Standards Council 1 King Street London EC2V 8AU United Kingdom Website www ivsc org Email ivsc ivsc org Phone 44 0 20 3178 7807 Executive Director Marianne Tissier Email mtissier ivsc org Related news IVSC consults on recommendations of external review group 22 May 2015 The International Valuation Standards Council IVSC has issued an engagement paper seeking comment and feedback on a number of recommendations and proposals that result from an external review of the IVSC One of the recommendations had been that the IVSC should discontinue work on all its financial instruments projects until it has been ensured that they serve the public interest and fulfil a market need The Bruce Column Making financial instrument valuation safe 18 Mar 2015 Sir David Tweedie has turned his attention to the problem of valuation particularly of financial instruments around the world Here our resident regular columnist Robert Bruce talks to him about his objectives and intentions We comment on IVSC s Agenda Consultation 20 Oct 2014 Deloitte Touche Tohmatsu Limited has responded to the International Valuation Standards Council s IVSC Agenda Consultation IVSC re exposes derivative valuation proposals 02 Sep 2014 The International Valuation Standards Council IVSC has issued a revised exposure draft proposing guidance on the valuation of equity derivatives The revised exposure draft responds to feedback on an earlier exposure draft published in 2013 placing more emphasis on practical considerations including consideration of derivative strategies and additional guidance on the applicability of models and resolution methods IVSC consults on agenda and standards 14 Jul 2014 The International Valuation Standards Council IVSC has issued two consultation papers seeking input into its future work plan and the structure and scope of International Valuation Standards IVS IVSC policy paper on global regulatory convergence

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/ivsc (2016-02-10)
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  • International Integrated Reporting Council (IIRC)
    how information is presented Content elements the key categories of information required to be included in an integrated report under the Framework presented as a series of questions rather than a prescriptive list of disclosures The table below summarises each of these building blocks together with the other key requirements for an integrated report High level summary of the requirements for an integrated report KEY REQUIREMENTS An integrated report should be a designated identifiable communication A communication claiming to be an integrated report and referencing the Framework should apply all the key requirements identified using bold italic type unless the unavailability of reliable data specific legal prohibitions or competitive harm results in an inability to disclose information that is material in the case of unavailability of reliable data or specific legal prohibitions other information is provided The integrated report should include a statement from those charged with governance that meets particular requirements e g acknowledgement of responsibility opinion on whether the integrated report is presented in accordance with the Framework and if one is not included disclosures about their role and steps taken to include a statement in future reports a statement should be included no later than an entity s third integrated report referencing the Framework GUIDING PRINCIPLES Strategic focus and future orientation insight into the organisation s strategy Connectivity of information showing a holistic picture of the combination inter relatedness and dependencies between the factors that affect the organisation s ability to create value over time Stakeholder relationships insight into the nature and quality of the organisation s relationships with its key stakeholders Materiality disclosing information about matters that substantively affect the organisation s ability to create value over the short medium and long term Conciseness sufficient context to understand the organisation s strategy governance and prospects without being burdened by less relevant information Reliability and completeness including all material matters both positive and negative in a balanced way and without material error Consistency and comparability ensuring consistency over time and enabling comparisons with other organisations to the extent material to the organisation s own ability to create value CONTENT ELEMENTS Organisational overview and external environment What does the organisation do and what are the circumstances under which it operates Governance How does an organisation s governance structure support its ability to create value in the short medium and long term Business model What is the organisation s business model Risks and opportunities What are the specific risk and opportunities that affect the organisation s ability to create value over the short medium and long term and how is the organisation dealing with them Strategy and resource allocation Where does the organisation want to go and how does it intend to get there Performance To what extent has the organisation achieved its strategic objectives for the period and what are its outcomes in terms of effects on the capitals Outlook What challenges and uncertainties is the organisation likely to encounter in pursuing its strategy and what are the potential implications for its business model and future performance Basis of preparation and presentation How does the organisation determine what matters to include in the integrated report and how are such matters quantified or evaluated History of the development of the IR Framework A history of developments in the publication of the IR Framework is summarised below Date Development Comments 12 September 2011 Discussion Paper Towards Integrated Reporting Communicating Value in the 21st Century published Comment deadline 14 December 2011 October 2011 Initial organisations participating in the IIRC Pilot Programme announced The Pilot Programme is a two year programme for a group of companies who will work as a network of peer group organisations exchanging knowledge and sharing experiences on integrated reporting July 2012 Draft Outline of the Integrated Reporting Framework Not part of the formal consultation process but the IIRC welcomed feedback November 2012 Prototype of the International Integrated Reporting IR Framework Not part of the formal consultation process but the IIRC welcomed feedback 16 April 2013 Consultation Draft of the International IR Framework published Comment deadline 15 July 2013 9 December 2013 International IR Framework published Available on IIRC website Related news Three new publications on integrated reporting 08 Jan 2016 The International Integrated Reporting Council IIRC has made available three new publications on integrated reporting The Bruce Column From headlines to trendlines How integrated reporting is gathering pace 15 Dec 2015 In a new Robert Bruce video interview Paul Druckman chief executive of the International Integrated Reporting Council talks of how the system of integrated reporting is expanding globally and becoming mainstream In his new column Robert Bruce our regular resident columnist assesses the progress of the system Recent sustainability and integrated reporting developments 27 Nov 2015 A summary of recent developments at the IIRC the ACCA the CFA Institute and the Natural Capital Coalition IIRC appoints new Board 30 Sep 2015 The International Integrated Reporting Council IIRC has appointed a new Board of Directors Applying the Integrated Reporting concept of capitals in the banking industry 07 Sep 2015 A paper written on behalf of the IR Banking Network analyses the application of the multi capitals approach in the IIRC framework for integrated reporting in the banking sector The paper also aims at providing industry specific guidance on the application of IR CPA Canada publication discussing the evolving corporate reporting landscape 31 Aug 2015 Chartered Professional Accountants of Canada CPA Canada has published a briefing discussing the evolving corporate reporting landscape especially as it relates to addressing sustainability issues Recent sustainability and integrated reporting developments 06 Aug 2015 A summary of recent developments at the IIRC the GRI the GSSB and the WFE IAASB developments 17 Jul 2015 The International Auditing and Assurance Standards Board IAASB has released revised International Standards on Auditing ISAs to better deal with disclosures in financial statement audits It has also released a publication on assurance on integrated reporting IIRC issues feedback report on assurance on integrated reporting papers 10 Jul 2015

    Original URL path: http://www.iasplus.com/en/resources/sustainability/iirc (2016-02-10)
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  • International Organization of Securities Commissions (IOSCO)
    markets 04 Jul 2014 The Basel Committee on Banking Supervision BCBS and the International Organization of Securities Commissions IOSCO have announced that they are co leading a task force that will undertake a wide ranging survey of global securitisation markets Consultation paper on IPSASB governance 24 Jan 2014 The Review Group for the governance and oversight arrangements of the International Public Sector Accounting Standards Board IPSASB has issued a public consultation paper on the future governance and oversight of the IPSASB and IPSASs as earlier consultations found that concerns about the governance and oversight of the IPSASB are some of the reasons cited by national authorities for not adopting IPSASs One of the possibilities mentioned is giving monitoring and oversight of the IPSASB to the IFRS Foundation s Monitoring Board and Trustees IASB chairman calls 2013 a very productive year for the IASB 10 Dec 2013 At the 2013 AICPA National Conference on Current SEC and PCAOB Developments IASB Chairman Hans Hoogervorst measured the IASB s achievements against the SEC Staff Report published in July 2012 International collaboration on disclosure requirements for Islamic capital market products 01 Nov 2013 In view of the increasing internationalisation of Islamic capital market ICM products the Islamic Financial Services Board IFSB the International Organization of Securities Commissions IOSCO and the Securities Commission Malaysia SC have published the joint publication Disclosure Requirements for Islamic Capital Market Products Hans Hoogervorst talks collaboration at the WSS conference 23 Sep 2013 IASB Chairman Hans Hoogervorst gave a speech today at the World Standard Setters WSS Conference on strengthening institutional relationships He discussed the role that collaboration plays in the current and future success of IFRS Further collaboration planned between IOSCO and IFRS Foundation 18 Sep 2013 The International Organization of Securities Commissions IOSCO and the IFRS Foundation announced that the two organisations will deepen their cooperation in the development and implementation of IFRS on a globally consistent basis Conclusions on governance and strategy review of IFAC member bodies 02 Apr 2013 The Monitoring Group and Public Interest Oversight Board PIOB have published documents in response to their March 2012 consultation documents on the governance of various organisations operating under the auspices of the International Federation of Accountants IFAC The reports outline a number of recommendations in relation to the governance and strategy of the various IFAC bodies but does not make any recommendations on the governance of the International Public Sector Accounting Standards Board IPSASB The Monitoring Group has formally taken the question of IPSASB oversight onto its agenda noting its own composition and that of the PIOB currently are not appropriate to the needs of stakeholders in public sector accounting standards IOSCO Secretary General calls for new global regulatory framework 13 Dec 2012 In a speech to The Atlantic Council Mr David Wright Secretary General of International Organization of Securities Commissions IOSCO has given a frank assessment of the issues surrounding the future of global financial regulation Mr Wright proffered the option of a global institutional framework

    Original URL path: http://www.iasplus.com/en/resources/global-organisations/iosco (2016-02-10)
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