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  • Public Company Accounting Oversight Board (PCAOB)
    s Responsibilities Regarding Other Information in Certain Documents Containing Audited Financial Statements and the Related Auditor s Report The proposed changes are intended to significantly enhance the auditor s reporting model retaining the current pass fail approach but increasing the amount of other information included in auditors reports ICAA report calls for public sector accounting standard reform 31 May 2013 The Institute of Chartered Accountants in Australia ICAA has released a report calling for reform of global public sector reporting including the transformation of the International Public Sector Accounting Standards Board IPSASB and the integration of the private and public sector financial reporting models under the auspices of the IFRS Foundation possibly eventually leading in the longer term to a potential merger of the IPSASB and International Accounting Standards Board IASB Chinese and US regulators enter into cooperative agreement 24 May 2013 The China Securities Regulatory Commission CSRC the Ministry of Finance MoF of China and the US Public Company Accounting Oversight Board PCAOB have announced a cooperative agreement on the oversight of audit firms subject to the regulatory jurisdictions of both regulators Finnish and US regulators enter into cooperative agreement 04 Feb 2013 The Auditing Board of the Central Chamber of Commerce AB3C of Finland and the US Public Company Accounting Oversight Board PCAOB have announced a cooperative agreement on the oversight of audit firms subject to the regulatory jurisdictions of both regulators French and US regulators enter into cooperative agreement 04 Feb 2013 The French High Council for Statutory Auditors H3C and the US Public Company Accounting Oversight Board PCAOB have announced a cooperative agreement on the oversight of audit firms subject to the regulatory jurisdictions of both regulators PCAOB hosts public meeting on auditor independence and audit firm rotation in Houston 17 Sep 2012 The US Public Company Accounting Oversight Board PCAOB announced that it will host its third public meeting 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 Thursday 18 October 2012 in Houston Texas at 8 30 a m Spanish and US regulators enter into cooperative agreement 19 Jul 2012 The Accounting and Auditing Institute Instituto de Contabilidad y Auditoría de Cuentas ICAC of Spain and the Public Company Accounting Oversight Board of the United States PCAOB have entered a cooperative agreement on the oversight of audit firms subject to the regulatory jurisdictions of both regulators PCAOB releases 2011 annual report 11 May 2012 The 2011 Annual Report of the US Public Company Accounting Oversight Board PCAOB reports that 2 388 firms were registered with the PCAOB including 908 non U S firms located in 88 jurisdictions PCAOB calls for nominations for Standing Advisory Group 02 May 2012 The United States Public Company Accounting Oversight Board PCAOB is soliciting nominations for its Standing Advisory Group SAG for the 2013 2015 three year term German and US regulators enter into a cooperative agreement 13 Apr 2012 The German Auditor

    Original URL path: http://www.iasplus.com/en/resources/regional/pcaob (2016-02-10)
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  • Country-by-country reporting
    the transparency of payments to governments by the extractive industry and loggers of primary forest and creating a mandatory country by country reporting requirement Non financial reporting will actively contribute to a new more responsible corporate world says Barnier 24 May 2013 The European Commissioner for Internal Market and Services Michel Barnier spoke at the Global conference on sustainability and reporting in Amsterdam which also saw the launch of the new G4 guidelines developed by the Global Reporting Initiative GRI Barnier highlighted the measures taken by the Commission to promote long termism in the corporate sector which also include a recent proposal on non financial reporting Full text of the final compromise on the Accounting Directive available 22 Apr 2013 On 9 April 2013 the European Council Parliament and Commission informally agreed on the finalisation of a new Accounting Directive that aims at reducing the administrative burden of accounting and at enhanced transparency in the extractive industry The full text of the final compromise on the Accounting Directive has now been made available Agreement on the revision of the EU Accounting Directives 12 Apr 2013 On 9 April 2013 the European Council Parliament and Commission informally agreed on the finalisation of a new Accounting Directive that aims at reducing the administrative burden of accounting and at enhanced transparency in the extractive industry Detailed information on the content of the new Directive is not available yet FEE comments on the EC proposals for the recast of the 4th and 7th Accounting Directives 09 Apr 2013 The Federation of European Accountants FEE has issued a letter to Mr Klaus Heiner Lehne Chair of the Committee on Legal Affairs JURI of the European Parliament on the recast of the 4th and 7th Accounting Directives The European Commission published proposals for revising the Accounting Directives in October 2011 and JURI representing the European Parliament subsequently analysed the proposals Currently European Council Parliament and Commission seem to be locked in their trilogue FEE has been trying to further inform the debate and help close the gaps by publishing various comment letters and a policy statement on the topic FEE publishes policy statement on the EC proposals for the recast of the 4th and 7th Accounting Directives 06 Dec 2012 On 25 October 2011 the European Commission published proposals for revising the Accounting Directives and the Transparency Directive which have been discussed widely throughout Europe The final report of the European Parliament Legal Affairs Committee JURI of 25 September 2012 however seems to indicate that there is a gap between the views in the European Parliament and the Council The Federation of European Accountants Fédération des Experts comptables Européens FEE believes that some of the differences are due to misconceptions and has therefore published a Policy Statement that is intended to inform the debate and also to represent the accountants view as a third major party involved in the discussions Hoogervorst outlines thoughts on leases US convergence and more 07 Nov 2012 IASB Chairman Hans Hoogervorst

    Original URL path: http://www.iasplus.com/en/resources/topics/country-by-country-reporting (2016-02-10)
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  • Differential reporting
    Zealand not for profit entities move away from a mix of requirements based on New Zealand equivalents to International Financial Reporting Standards NZ IFRS and other accounting policies under governing legislation or other mandates AASB research report on differential reporting 20 Jun 2014 The Australian Accounting Standards Board AASB Research Centre has published a research report on the application of the reporting entity differential reporting concept in Australia The report explores a number of issues related to the adequacy of financial reporting by Australian entities without public accountability noting the widespread use of special purpose financial reporting which does not require the application of all Australian Accounting Standards New Zealand issues For Profit standards 06 Jun 2014 The New Zealand External Reporting Board XRB and New Zealand Accounting Standards Board NZASB have issued two for profit accounting standards on joint operations and hedge accounting disclosures AASB essay on the Australian reporting entity concept 04 Apr 2014 The Australian Accounting Standards Board AASB has released an essay published by its AASB Research Centre which explores the role of the reporting entity concept in Australia s differential reporting regime FEE publishes issues paper on EPSAS 28 Mar 2014 The Federation of European Accountants Fédération des Experts comptables Européens FEE has published a paper discussing the issues emerging in the public debate on a possible future implementation of European Public Sector Accounting Standards EPSAS in European Union EU member states Australia seeks to finesse its differential reporting regime in light of IFRS 1 changes 19 Mar 2014 The Australian Accounting Standards Board AASB has issued an exposure draft and accompanying research paper discussing the implications for entities moving between different tiers of its differential reporting regime in light of changes made by the International Accounting Standards Board IASB to permit the repeated application of IFRS 1 First time Adoption of International Financial Reporting Standards AASB believes the IFRS for SMEs should be updated in line with full IFRSs 13 Mar 2014 The Australian Accounting Standards Board AASB has submitted a comment letter on the IASB s Exposure Draft ED 2013 9 Proposed amendments to International Financial Reporting Standard for Small and Medium sized Entities In the letter the AASB expresses disappointment that the review of the standard has not been as comprehensive as hoped CCAB study highlights demand for international standards for financial reporting in the not for profit sector 26 Feb 2014 The Consultative Committee of Accountancy Bodies CCAB has published the results of a study to establish whether there is a demand for the development of an international financial reporting framework guidance or standards for use by not for profit organisations NPO in the not for profit sector Results indicate that there is a demand for an international standard for financial reporting in the not for profit sector FEE voices concerns regarding the development and implementation of EPSAS 21 Feb 2014 The Federation of European Accountants Fédération des Experts comptables Européens FEE has responded to the European Commission Eurostat consultation on

    Original URL path: http://www.iasplus.com/en/resources/topics/differential-reporting (2016-02-10)
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  • Islamic accounting
    their financial reporting AOSSG survey finds comparability of Islamic financial institutions financial statements needs to be improved 11 Mar 2015 The Asian Oceanian Standard Setters Group AOSSG has released the results of a survey into the financial reporting standards that Islamic financial institutions IFIs are legally required to comply with in their jurisdiction and the extent of compliance Application of IFRS 15 to permitted Islamic finance transactions 16 Jan 2015 At the upcoming meeting of the Joint Transition Resource Group for Revenue Recognition TRG participants will discuss the implications of IFRS 15 for certain instruments common in the Islamic financial industry AAOIFI issues new accounting standard 30 Dec 2014 The Accounting and Auditing Organisation for Islamic Financial Institutions AAOIFI has issued a new accounting standard on investment accounts AAOIFI joins IASB consultative group for Sharia a compliant instruments and transactions 22 Dec 2014 The Accounting and Auditing Organisation for Islamic Financial Institutions AAOIFI met with IASB representatives on 16 December 2014 to discuss potential areas of cooperation During the meeting AAOIFI formally accepted membership in the IASB s consultative group on Sharia a compliant instruments and transactions AAOIFI has also offered to arrange the next meeting of the consultative group in the first quarter of 2015 in the Arabian Gulf region Outcomes of IASB outreach meeting on issues in the application of IFRS 9 to Islamic finance 24 Sep 2014 The IASB has made available a recording and a summary report from the meeting of its Consultative Group for Shariah Compliant Instruments and Transactions in Kuala Lumpur on 5 September 2014 The meeting was a combination of a working group meeting and an outreach meeting to discuss issues in the application of IFRS 9 Financial Instruments to Islamic finance Staff paper on issues in the application of IFRS 9 to Islamic finance 21 Aug 2014 The IASB s Consultative Group for Shariah Compliant Instruments and Transactions will meet in Kuala Lumpur on 5 September 2014 to discuss issues in the application of IFRS 9 Financial Instruments to Islamic finance To this end a staff paper has been prepared addressing issues in the classification of financial instruments under IFRS 9 IASB working group invites papers on the application of IFRS 9 principles to Islamic products 13 Mar 2014 The IASB s Consultative Group for Shariah Compliant Instruments and Transactions has issued a request for papers on challenges that may arise in the application of IFRS 9 classification and measurement principles to instruments and transactions commonly referred to as Islamic finance Outcomes from the fifth AOSSG meeting 20 Dec 2013 The Asian Oceanian Standard Setters Group AOSSG has released a communiqué from its meeting held in Colombo Sri Lanka on 27 and 28 November 2013 Accounting and Islamic finance in the Middle East and North Africa 25 Nov 2013 The Asian Oceanian Standards Setters Group AOSSG has published the results of a survey distributed by the AOSSG s Islamic Finance Working Group in 24 countries in the Middle East and North Africa

    Original URL path: http://www.iasplus.com/en/resources/topics/islamic-accounting (2016-02-10)
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  • Global financial crisis
    the progress the IASB has made and the dangers of convergence over adoption CFA Institute issues part 2 of its study on financial crisis insights on bank performance reporting 07 Aug 2014 The CFA Institute a global association of investment professionals has published part 2 of its study Financial Crisis Insights on Bank Performance Reporting The second part focuses on the relationship between disclosed loan fair values impairments and the risk profile of banks CFA Institute issues study on financial crisis insights on bank performance reporting 16 Jul 2014 The CFA Institute a global association of investment professionals has published a report entitled Financial Crisis Insights on Bank Performance Reporting Part 1 Assessing the Key Factors Influencing Price to Book Ratios suggesting that better reporting of risk timely loan write downs on balance sheets and investor access to comparable reporting of information across jurisdictions will improve transparency and reduce investor risk aversion towards the banking sector Survey on developments in securitisation 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 Joint outreach event on quality financial reporting 06 May 2014 The European Financial Reporting Advisory Group EFRAG the European Federation of Financial Analysts Societies EFFAS and the Association Belge des Analystes Financiers ABAF the Association of Certified International Investment Analysts ACIIA and the International Accounting Standards Board IASB have announced the third in their series of joint outreach events will be held on 25 June 2014 to discuss what role investors and advisers can play in ensuring quality financial reporting Hans Hoogervorst speaks about Accounting and moral hazard 10 Apr 2014 IASB Chairman Hans Hoogervorst recently delivered the 2014 Ken Spencer Memorial Lecture titled Building trust in financial markets Accounting and moral hazard Convergence can never be a substitute for adoption of IFRS 08 Mar 2014 At the 8th IFRS Regional Policy Forum currently hosted by the Institute of Chartered Accountants of India ICAI in New Delhi IASB Chairman Hans Hoogervorst gave a speech entitled Closing the accounting chapter of the financial crisis in which he detailed the IASB s reaction to the financial crisis and concluded that convergence was an unstable means to achieve a single set of global accounting standards G20 Finance Ministers and Central Bank Governors drop accounting convergence from their communiqué 24 Feb 2014 Over past years the G20 used to call for convergence of accounting standards in the final communiqués published after their summits The newest communiqué published after the meeting of G20 Finance Ministers and Central Bank Governors in Sydney does not contain a call for converged accounting standards anymore EFRAG believes fair value should not be banned 26 Oct 2013 The European Financial Reporting Advisory Group EFRAG has submitted a letter of comment to the European Commission EC concerning its Green Paper Long term financing of the European economy EFRAG believes that

    Original URL path: http://www.iasplus.com/en/resources/topics/gfc (2016-02-10)
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  • Sustainability reporting and integrated reporting
    all sectors 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 07 Dec 2015 A summary of recent developments at the FSB the SASB and CSR Netherlands 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 Accounting bodies call upon world leaders to put in place a sustainability framework 24 Nov 2015 The Accounting Bodies Network ABN established by the Prince of Wales Accounting for Sustainability project A4S is calling on world leaders ahead of the COP 21 Climate Change meeting in Paris to put in place a framework that will enable investors to make informed decisions that will support the goal of a sustainable future Recent sustainability reporting developments 17 Nov 2015 A summary of recent developments at the WBCSD CDSB the United Nations and the GRI Recent sustainability reporting developments 06 Nov 2015 A summary of recent developments at the WBCSD the GRI GSSB and the WFE IFAC paper on the contribution of professional accountants to integrated thinking 04 Nov 2015 The International Federation of Accountants IFAC has released Creating Value with Integrated Thinking The Role of Professional Accountants The paper sets out a vision for integrated thinking and explores what professional accountants working in the public and private sectors can do in practical terms to facilitate it in their organisation regardless of whether their organisation is planning to publish an integrated report FEE paper puts forward the idea of CORE MORE 13 Oct 2015 The Federation of European Accountants Fédération des Experts comptables Européens FEE has published a paper presenting a new approach to corporate reporting GRI publishes second analysis on sustainability and reporting trends in 2025 08 Oct 2015 The Global Reporting Initiative GRI has published a second Analysis Paper resulting from its Reporting 2025 Project that is designed to promote an international discussion about the purpose of sustainability reporting and disclosures looking ahead to 2025 IIRC appoints new Board 30 Sep 2015 The International Integrated Reporting Council IIRC has appointed a new Board of Directors SASB issues second set of provisional standards for consumption industries 29 Sep 2015 The SASB has issued a second set of provisional standards for consumption industries The standards are the ninth set in a planned series of industry related SASB standards on accounting for environmental social and governance issues that could be material to a corporation s performance The standards focus on material sustainability matters that corporations are

    Original URL path: http://www.iasplus.com/en/resources/sustainability/sustainability (2016-02-10)
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  • Global Reporting Initiative (GRI)
    clarity across frameworks and standards 06 May 2015 The Corporate Reporting Dialogue CRD which brings together organisations that have significant international influence on the corporate reporting landscape has published a landscape map that provides a snapshot of a comparison of their frameworks standards and related requirements through the lens of integrated reporting Among the CRD members are the IASB and the FASB New guide for disability reporting 12 Mar 2015 The Global Reporting Initiative GRI and the Fundación ONCE the leading organisation of the European network for corporate social responsibility and disability have jointly published Disability in Sustainability Reporting a guide to help organisations communicate their commitment to respecting and promoting the rights of people with disabilities Two new GRI publications 05 Mar 2015 The Global Reporting Initiative GRI has published Linking GRI and CDP How are GRI s G4 Guidelines and CDP s 2015 Climate change questions aligned and Defining materiality What matters to reporters and investors GRI document on linking G4 Guidelines and the new EU Directive on disclosure of non financial and diversity information 05 Feb 2015 The Global Reporting Initiative GRI has published Making headway in Europe a new linkage document that shows how companies can use GRI s G4 Guidelines to comply with the European Directive on disclosure of non financial and diversity information GRI forms new governance structure 06 Nov 2014 The Global Reporting Initiative GRI has revealed a new structure intended to further strengthen the independence of GRI s standard setting activities whilst upholding the organisation s global multi stakeholder principle A separate governance structure for standard setting will be implemented and three new bodies will be created Two new sustainability reporting developments 02 Oct 2014 The UN Global Compact s CEO Water Mandate initiative has released the finalised Corporate Water Disclosure Guidelines and the Global Reporting Initiative GRI has published a report titled Spotlight on Corporate Transparency Insights from GLOBE 2014 Corporate Reporting Dialogue launched 17 Jun 2014 The International Integrated Reporting Council IIRC today has introduced the Corporate Reporting Dialogue CRD which brings together organisations that have significant international influence on the corporate reporting landscape among them the IASB and the FASB Sustainability reporting update 13 Jun 2014 A brief overview of recent topics related to sustainability reporting including a new stock exchange joining the Sustainable Stock Exchange SSE Initiative updates on Global Reporting Initiative GRI developments and a new discussion paper from the Climate Disclosure Standards Board CDSB dealing with boundary setting for non financial information GRI proposes governance reform 27 May 2014 The Global Reporting Initiative GRI has announced a series of proposed governance changes which are designed to strengthen its role as a standard setter for sustainability reporting and enhance global acceptance of its role The proposed changes include the creation of a separate standard setting side of GRI including a new Sustainability Reporting Standards Board SRSB reforms to due process including a new Due Process Oversight Committee DPOC and the creation of an independent appointment process through

    Original URL path: http://www.iasplus.com/en/resources/sustainability/gri (2016-02-10)
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  • Climate Disclosure Standards Board (CDSB)
    academics Contact information Climate Disclosure Standards Board Secretariat C O Carbon Disclosure Project 40 Bowling Green Lane London EC1R 0NE United Kingdom Telephone 44 0 207 415 7180 Related news Recent sustainability reporting developments 17 Nov 2015 A summary of recent developments at the WBCSD CDSB the United Nations and the GRI Sustainability reporting update 16 Jun 2015 A brief overview of recent sustainability reporting developments at the Global Reporting Initiative GRI the Climate Disclosure Standards Board CDSB and the International Integrated Reporting Council IIRC CRD releases landscape map providing clarity across frameworks and standards 06 May 2015 The Corporate Reporting Dialogue CRD which brings together organisations that have significant international influence on the corporate reporting landscape has published a landscape map that provides a snapshot of a comparison of their frameworks standards and related requirements through the lens of integrated reporting Among the CRD members are the IASB and the FASB Table connecting corporate non financial reporting approaches 24 Feb 2015 The Climate Disclosure Standards Board CDSB has published a table showing how the most widely used corporate natural capital related reporting approaches align Second and final draft of the CDSB s environmental reporting framework 31 Oct 2014 The final draft builds on the feedback received during the first consultation held in spring 2014 The completed CDSB Framework will be available in March 2015 Corporate Reporting Dialogue launched 17 Jun 2014 The International Integrated Reporting Council IIRC today has introduced the Corporate Reporting Dialogue CRD which brings together organisations that have significant international influence on the corporate reporting landscape among them the IASB and the FASB Sustainability reporting update 13 Jun 2014 A brief overview of recent topics related to sustainability reporting including a new stock exchange joining the Sustainable Stock Exchange SSE Initiative updates on Global Reporting Initiative GRI developments and a new discussion paper from the Climate Disclosure Standards Board CDSB dealing with boundary setting for non financial information CDSB seeks views on updated environmental reporting framework 20 Feb 2014 The Climate Disclosure Standards Board CDSB has published a consultation draft of the second edition of its CDSB Framework which is designed to assist in the preparation and presentation of specific environmental information for the benefit of investors Compared to the existing framework the consultation draft proposes to extend the scope of environmental reporting beyond climate change to include natural capital information about water and forest commodities Sustainability and integrated reporting update 27 Nov 2013 A brief overview of recent topics related to sustainability reporting and integrated reporting focused on a FAQ on sustainability reporting International Integrated Reporting Council IIRC developments and a recent United Nations Environment Programme Finance Initiative UNEP FI conference New IFAC Policy Position Paper on enhancing organisational reporting 13 Oct 2013 The International Federation of Accountants IFAC issued Policy Position Paper 8 Enhancing Organizational Reporting emphasising the importance and usefulness of reporting broad based information beyond that which is provided in traditional financial reporting IFAC also calls for convergence in this context IIRC

    Original URL path: http://www.iasplus.com/en/resources/sustainability/cdsb (2016-02-10)
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