IFRSs in Your Pocket 2012
Welcome to the 2012 edition of IFRS in Your Pocket, which provides an update of developments up to the end of the second quarter of 2012.
We address all of the same material which has made this publication an annual world-wide favourite: background information on the structure and workings of the IASB; analysis of the use of IFRSs around the world; summaries of all current Standards and Interpretations; and up-to-date details of IASB and IFRIC agenda projects. It is the ideal guide for entities contemplating a move to IFRSs, as well as an update and refresher for everyone around the world already reporting under the IFRS framework.
2011-2012 has been a year of consolidation. The IASB has been raising its profile in emerging markets and increased the amount of outreach it undertakes. The governing bodies of the IASB, its monitoring board and its trustees, produced influential reports on the governance of the standardsetting process during the year. And these too, underlined the commitment to global reach by increasing the number of members of the monitoring board and, in the foreseeable future, limiting eligibility to those countries which use IFRS in their domestic jurisdiction. Two-thirds of the countries in the G20 and almost half of the Global Fortune 500 companies now report using IFRS. ‘IFRS as a global standard has had a tremendously beneficial impact for global investors’, as Hoogervorst put it at the end of his first year in office.