Monthly reporting pack - March 2012
This section provides a “signpost” to significant accounting and reporting developments and related publications during the month, both for Irish GAAP adopters and IFRS adopters. Our document IFRS – Current Status provides a summary of new and amended standards applicable in 2011, an insight into those not yet mandatorily applicable, and proposed future developments.
We encourage you to refer to our Global Firm website, www.iasplus.com, which provides a world-leading continuously updated information source on international financial reporting developments.
Irish / UK Developments
- IAASA publishes findings from review of debt and fund issuers fair value and risk disclosures in 2010 financial statements. Click here for article. Click here for report.
- UK Financial Reporting Review Panel publishes revised operating procedures. Click here for press release. Click here for report.
- UK FRC consults on its priorities and funding for 2012/2013. Click here for article. Click here for report.
- FRC and BIS publish discussion paper on ‘Simpler reporting for the smallest businesses’ in the UK. Click here.
- IASB releases updated work plan. Click here.
- IASB issues amendments to IFRS 1 regarding government loans. Click here.
- IFRS Foundation release training module for IFRS for SMEs section on Liabilities and Equity. Click here.
- EFRAG invites companies to participate in a study of IFRS 10 and consolidation of Special Purpose Entities. Click here.
Regulatory & Related Developments
- Central Bank publishes ‘Review of the regulatory regime for safeguarding of client assets’. Click here.
- Monitoring Group and Public Interest Oversight Board release consultation papers on the governance of international standard setting bodies. Click here
- FEE publishes survey on accountancy profession in Europe. Click here.
- Global Reporting Initiative release XBRL taxonomy for sustainability reporting. Click here.
- ESMA allows EU registered Credit Rating Agencies to endorse credit ratings issued in the U.S., Canada, Hong Kong and Singapore. Click here.
- ESMA has entered into supervisory co-operation arrangements with the U.S. SEC. Click here.
Deloitte publications & articles
- IFRS in Focus – Amendments to IFRS 1 for government loans
- Second global IFRS Banking survey – Q1 2012 . Click here
- IFRS on Point – Accounting Developments for February 2012. Click here.
- Insurance Accounting Newsletter – ‘Old disagreements and new delays make convergence uncertain’ Click here.
- Accounting changes in a financial world. Click here.