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  • IFRS Advisory Council membership update
    the IFRS Advisory Council The Advisory Council is the formal advisory body to the Trustees and the IASB It advises the IFRS Foundation on its strategic direction technical work plan and priorities The new Advisory Council members are William Coen Basel Committee on Banking Supervision Aziz Dieye La Fédération Internationale Des Experts Comptables Francophones FIDEF Isabelle Ferrand International Co operative Alliance ICA Yibin Gao Ministry of Finance People s Republic of China Andrew Marshall KPMG Colin McDonald The Investment Association Melanie McLaren Group of European National Standard setters John Stanford International Federation of Accountants IFAC With the exception of Isabelle Ferrand who is representing an organisation newly admitted to the Advisory Council the new members will replace retiring members Peter Chambers Egbert Eeftink Stephenie Fox Alberto Giussani Daniel McMahon René van Wyk and Min Yang The following members of the Advisory Council have been reappointed Linda Diaz del Barrio Gavin Francis Jake Green Igor Kozyrev Ghiath Shabsigh Anne Simpson Lynda Sullivan and Stephen Taylor Ernesto López Mozo and Maarika Paul are stepping down from the Council All appointments take effect 1 January 2016 and are for a three year period The press release announcing the new appointments can be found on the IASB s website Related Topics Resources IFRS Advisory Council Related news Agenda for the February 2016 IFRS Advisory Council meeting 05 Feb 2016 Report on the November 2015 IFRS Advisory Council meeting 10 Dec 2015 Agenda for the November 2015 IFRS Advisory Council meeting 08 Oct 2015 Report on the June 2015 IFRS Advisory Council meeting 20 Jul 2015 Agenda for the June 2015 IFRS Advisory Council meeting 08 May 2015 IFRS Foundation Annual Report 2014 05 May 2015 All Related Related Publications Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision IAS 27 IFRS 10 Non

    Original URL path: http://www.iasplus.com/en/news/2015/10/ifrs-ac (2016-02-10)
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  • Agenda for the November 2015 IFRS Advisory Council meeting
    Advisory Council meeting 08 Oct 2015 An agenda has been released for the upcoming meeting of the IFRS Advisory Council which is being held in London on 2 3 November 2015 Highlights of the meeting will be thorough discussions of the Review of structure and effectiveness of the IFRS Foundation and of the Agenda consultation 2015 A summary of the agenda is set out below Monday 2 November 2015 Morning session 09 15 12 30 Welcome and Chairman s introduction Review of structure and effectiveness of the IFRS Foundation introduction to break out session Trustee activities Afternoon session 13 15 17 30 IASB and IFRS Foundation activities Review of structure and effectiveness of the IFRS Foundation report back from break out session and plenary discussion IFRS network exchange with the US Financial Accounting Standards Advisory Council FASAC Tuesday 3 November 2015 Morning session 09 15 12 15 Agenda consultation 2015 introduction to break out session Members communications Afternoon session 14 00 15 45 Agenda consulation 2015 report back from break out session and plenary discussion Sum up discussions Agenda papers for the meeting will be available in due course on the IASB website Related Topics Resources IFRS Advisory Council Related news Agenda for the February 2016 IFRS Advisory Council meeting 05 Feb 2016 Report on the November 2015 IFRS Advisory Council meeting 10 Dec 2015 IFRS Advisory Council membership update 30 Oct 2015 Report on the June 2015 IFRS Advisory Council meeting 20 Jul 2015 Agenda for the June 2015 IFRS Advisory Council meeting 08 May 2015 IFRS Foundation Annual Report 2014 05 May 2015 All Related Related Publications Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision IAS 27 IFRS 10 Non cash acquisition of non controlling interest by a controlling shareholder in the consolidated financial statements 28

    Original URL path: http://www.iasplus.com/en/news/2015/10/ifrs-ac-agenda (2016-02-10)
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  • Report on the June 2015 IFRS Advisory Council meeting
    filing requirements by jurisdiction and items on the IASB s technical agenda related to the research program and leases 2015 agenda consultation Council members provided feedback concerning the method of presentation in the request for views Review of the structure and effectiveness of the IFRS Foundation The council made suggestions regarding the draft consultation document 2015 2017 IFRS Foundation strategy The staff gave an overview presentation to the council IFRS adoption in Japan The council noted the increasing number of companies adopting IFRSs in Japan because of the perceived benefits of doing so and discussed the implementation of the Japanese corporate governance code Profiles of IFRS filing requirements by jurisdiction The council requested that the staff consider whether there are additional strategic uses for the profiles Research program The council supported this program and provided several considerations In addition the council indicated that it supports changing rate regulation from a research project to a standards level project Leases The council proposed steps to be taken after the issuance of the leases standard Specifically the council suggested that 1 there is no need to form a transition resource group 2 educational meetings with national standard setters investors and regulators should be held 3 the effects analysis document should explain the differences between IFRSs and U S GAAP and 4 the IASB should monitor implementation issues The next meeting of the IFRS Ad vi sory Council is sched uled for 2 3 November 2015 in London The full report on the council s June meeting is avail able on the IASB s website Related Topics Resources IFRS Advisory Council Related news Agenda for the February 2016 IFRS Advisory Council meeting 05 Feb 2016 Report on the November 2015 IFRS Advisory Council meeting 10 Dec 2015 IFRS Advisory Council membership update 30 Oct

    Original URL path: http://www.iasplus.com/en/news/2015/07/ifrs-ac-report (2016-02-10)
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  • Agenda for the June 2015 IFRS Advisory Council meeting
    IFRS Advisory Council meeting 08 May 2015 An agenda has been released for the upcoming meeting of the IFRS Advisory Council which is being held in London on 9 10 June 2015 The meeting will focus on IASB activities leases the IFRS adoption experience in Japan the IASB Agenda Consultation the use of IFRS around the world Trustee activities and research activities A summary of the agenda as at 6 May 2015 is set out below Tuesday 9 June 2015 09 15 16 15 Welcome and Chairman s introduction Research Activities Overview Rate regulated activities agenda decision High inflation agenda decision Foreign currency translation agenda decision IFRS adoption experience in Japan IASB Agenda consultation consultation on contents of request for views Leases steps after publication of the Standard Trustee activities Key issues seeking input from the Council EU Capital markets Union consultation Wednesday 10 June 2015 09 15 14 15 IASB activities Chairman s report Work plan update ASAF update Other key issues seeking input from the Council Use of IFRS jurisdictional filing requirements Sum up discussions Agenda papers for the meeting will be available in due course on the IASB website Related Topics Resources IFRS Advisory Council Related news Agenda for the February 2016 IFRS Advisory Council meeting 05 Feb 2016 Report on the November 2015 IFRS Advisory Council meeting 10 Dec 2015 IFRS Advisory Council membership update 30 Oct 2015 Agenda for the November 2015 IFRS Advisory Council meeting 08 Oct 2015 Report on the June 2015 IFRS Advisory Council meeting 20 Jul 2015 IFRS Foundation Annual Report 2014 05 May 2015 All Related Related Publications Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision IAS 27 IFRS 10 Non cash acquisition of non controlling interest by a controlling shareholder in the consolidated financial statements 28 Nov

    Original URL path: http://www.iasplus.com/en/news/2015/05/ifrs-ac-agenda (2016-02-10)
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  • Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision: IAS 27/IFRS 10 — Non-cash acquisition of non-controlling interest by a controlling shareholder in the consolidated financial statements
    Deloitte response to the IFRS Interpretation Committee s publication in the September 2012 IFRIC Update of the tentative decision not to take onto the IFRIC s agenda a request for interpretation of whether the difference between the carrying amount and fair value of non cash consideration for the purchase of a non controlling interest should be recognised in profit or loss in the controlling shareholders consolidated financial statements We agree with the IFRS Interpretations Committee s decision not to add this item onto its agenda but note that the reference to IFRSs generally requiring recognition of a gain or loss on derecognition of an asset in profit or loss could be enhanced by reference to the specific requirements of paragraph 68 of IAS 16 Property Plant and Equipment and paragraph 113 of IAS 38 Intangible Assets Download Related Topics Publication series Deloitte comment letters IASB IFRIC IFRSF Resources IFRS Advisory Council Projects IFRS Interpretations Committee agenda discussions Standards IAS 27 Consolidated and Separate Financial Statements 2008 IFRS 10 Consolidated Financial Statements Related news Agenda for the February 2016 IFRS Advisory Council meeting 05 Feb 2016 We comment on a number of tentative agenda decisions of the IFRS Interpretations Committee 19 Jan 2016 IASB defers the effective date of September 2014 amendments to IFRS 10 and IAS 28 17 Dec 2015 Report on the November 2015 IFRS Advisory Council meeting 10 Dec 2015 We comment on a number of tentative agenda decisions of the IFRS Interpretations Committee 30 Nov 2015 18th ESMA enforcement decisions report released 25 Nov 2015 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 Deloitte comment letter on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 Deloitte comment letter on IFRIC draft Interpretation 2015

    Original URL path: http://www.iasplus.com/en/publications/global/comment-letters/2012/ifric-ias-27-ifrs-10 (2016-02-10)
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  • Comment deadline on ED/2015/8
    site Info Comment deadline on ED 2015 8 When 26 Feb 2016 from 01 00 AM to 10 00 PM Timezone UTC Add event to calendar vCal iCal On 28 October 2015 the IASB published an exposure draft of a proposed IFRS Practice Statement Application of Materiality to Financial Statements Comments are requested by 26 February 2016 Related Topics Date type Comment letter deadline Resources IASB exposure drafts International Accounting Standards Board IASB Projects Conceptual Framework Comprehensive IASB project Disclosure initiative Principles of disclosure Disclosure initiative Materiality Disclosure initiative Overview Standards Conceptual Framework for Financial Reporting 2010 Related news 2016 IFRS Red Book coming in March 09 Feb 2016 Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 February 2016 IASB meeting agenda posted 05 Feb 2016 FRC responds to IASB s consultation on draft materiality practice statement 04 Feb 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 Need to know IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 Need to know IASB issues amendments to IAS 12 to clarify the recognition of deferred tax assets for unrealised losses related to debt instruments measured at fair value 29 Jan 2016 Deloitte comment letter on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 All Related Related Dates February 2016 IASB meeting education session 12 Feb 2016 London February 2016 IASB meeting 16 Feb 2016 17 Feb 2016

    Original URL path: http://www.iasplus.com/en-gb/events/deadlines/2016/comment-deadline-on-ed-2015-8?set_language=en-gb (2016-02-10)
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  • IASB publishes proposed Practice Statement on materiality
    could influence decisions that the primary users of general purpose financial reports make on the basis of financial information about a specific reporting entity It states that materiality is pervasive to the preparation of general purpose financial statements and needs to be considered in the primary financial statements as a whole The IASB also concedes that judgement needs to be applied to assess whether information could reasonably be expected to influence decisions that its primary users make The PS also notes that the assessment of whether information is material needs to be on both an individual and a collective basis and also needs an overall assessment and does involve assessing qualitative and quantitative factors Presentation and disclosure in the financial statements The PS notes that in preparing the financial statements management should consider the objective of providing information that is useful to users in assessing the prospects for future net cash inflows to the entity and in assessing its stewardship of the entity s resources This objective provides the context for materiality judgements and may lead to different materiality assessments in different parts of the financial statement The IASB proposes three steps to assess what information should be presented in the primary financial statements to assess what information should be disclosed within the notes including assessment of appropriate emphasis and then to review the financial statements as a whole to ensure that the financial statements are a comprehensive document with an appropriate overall mix and balance of information The IASB also states that an entity shall not reduce the understandability of its financial statements by obscuring material information with immaterial information or by aggregating material items that have different natures or functions although it concedes that IFRS does not prohibit entities from disclosing immaterial information Omissions and misstatements The PS notes that the materiality of identified errors or omissions needs to be assessed individually and on basis of the financial statements as a whole Material misstatements or omissions that offset each other still are considered material misstatements of the financial statements as such The PS also states that intentionally made misstatements shall always be considered material Recognition and measurement The PS notes that materiality considerations also apply to decisions not to apply a requirement in an IFRS when recording a particular item on grounds of the effect of not applying it being considered immaterial It stresses that some entities might choose practical expedients for this reason However the PS states that IFRS recognition and measurement requirements need to be applied if their effect is material and that financial statements do not comply with IFRSs if they contain either material errors or immaterial errors made intentionally to achieve a particular presentation of an entity s financial position financial performance or cash flow Initial application and transition Given the proposed PS is not a mandatorily applicable IFRS it does contain neither a proposed effective date nor transition guidance The IASB also notes that the PS may undergo further changes even after being

    Original URL path: http://www.iasplus.com/en/news/2015/10/materiality (2016-02-10)
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  • March 2016 GPF meeting
    News Publications Standards Governance Other regulatory Projects Resources Customise Topics Communications Toggle navigation Search site Info March 2016 GPF meeting When 02 Mar 2016 from 09 00 AM to 05 00 PM Timezone UTC Where London Add event to calendar vCal iCal Representatives of the International Accounting Standards Board IASB will meet with the Global Preparers Forum GPF in London on Wednesday 2 March 2016 More information about this event Related Topics Date type Global Preparers Forum meetings Resources Global Preparers Forum GPF International Accounting Standards Board IASB Related news 2016 IFRS Red Book coming in March 09 Feb 2016 Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 February 2016 IASB meeting agenda posted 05 Feb 2016 EFRAG Board conference call February 2016 04 Feb 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 Need to know IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 Need to know IASB issues amendments to IAS 12 to clarify the recognition of deferred tax assets for unrealised losses related to debt instruments measured at fair value 29 Jan 2016 Deloitte comment letter on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 All Related Related Dates February 2016 IASB meeting education session 12 Feb 2016 London February 2016 IASB meeting 16 Feb 2016 17 Feb 2016 London Comment deadline on ED 2015 10 17 Feb 2016 London Comment deadline on

    Original URL path: http://www.iasplus.com/en-gb/events/gpf/march-2016?set_language=en-gb (2016-02-10)
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