The attached issue of Accounting Roundup presents brief descriptions of pronouncements and other regulatory and professional developments in accounting and financial reporting that occurred during August 2007. Topics covered in this issue include the following: FASB Developments FASB Decides No Deferral of Fair Value Statements 157 and 159; Proposal to Indefinitely Defer SOP 07-1 Affecting Investment Company Accounting Expected FASB Meets With Accounting Standards Board of Japan to Discuss Global Convergence
AICPA Developments SEC Developments PCAOB Developments PCAOB Issues Draft Guidance for Auditors of Smaller Public Companies PCAOB Approves Amendments to Inspection Frequency for Firms That Do Not Regularly Issue Audit Reports PCAOB Issues Inspection Report on Small U.S. Audit Firms
International Developments IASB and Accounting Standards Board of Japan Make Progress Toward Goal of Convergence in Accounting Standards by 2011 IASB Extends the Deadline for Comments on Proposed IFRS for Small and Medium-Sized Entities IASB Publishes Proposals for Amendments to IFRSs Under the First Annual Improvements Project International Accounting Standards Committee Foundation Appoints Gerrit Zalm as Chairman of the Trustees
Links to additional information are provided for most topics. Accounting Roundup, published by Deloitte & Touche LLP, briefly describes recent U.S. regulatory and professional developments in the field of accounting. In each issue, visitors find summaries with hyperlinks to more detailed information. Accounting Roundup acts as a resource guide for accounting, financial, investment, legal, tax, and other business professionals. Find the complete August 2007 issue of Accounting Roundup in the PDF attachment below. Or visit our Accounting Roundup Archive, where you can access past issues and other special editions, including: Year in Review — 2006, Third Quarter in Review — 2006, Second Quarter in Review — 2006, and First Quarter in Review — 2006. |
