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Financial Reporting

IASB Amends the Accounting for Rights Issues

Oct 13, 2009

That Time of Year Again! - Kids Back to School and Credit Union Audits

New Guidance from the Financial Regulator - Credit Unions like all financial institutions and businesses have found 2009 to be challenging year. Based on the predictions of experts in the field the next 12 months may be even more difficult...

Sep 1, 2009

Simplified IFRS represents the end of Irish GAAP as we know it

Irish GAAP will soon disappear in its present form to be replaced by a new version of the international rules according to PricewaterhouseCoopers. The Ireland and UK accounting standard-setter, the Accounting Standards Board (ASB).......

Aug 30, 2009

IFRIC proposes guidance on settling financial liabilities with equity instruments

The International Financial Reporting Interpretations Committee today published for public comment a draft Interpretation, IFRIC D25(IFRIC) Extinguishing Financial Liabilities with Equity Instruments.........

Aug 23, 2009
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ASB seeks views on proposals for future reporting requirements

On August 11th The Accounting Standards Board issued a consultation paper 'Policy Proposal: the future of UK GAAP’ which sets out its proposals for the future reporting requirements...

Aug 18, 2009

IASB Updates Published

With the introduction of The IFRS for SMEs last week we have received a number of queries with regard to the application date of these new standards...

Aug 4, 2009

IASB Publishes IFRS for SMEs

The International Accounting Standards Board (IASB) issued today an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs), which are estimated to represent more than 95 per cent of all companies...

Jul 17, 2009

IFAC Welcomes new SME reporting Standard

The International Federation of Accountants (IFAC) and its Small and Medium Practices (SMP) Committee welcome the release of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) by the International Accounting Standards Board (IASB)...

Jul 14, 2009

Accounting Standards Board (ASB) issues a Financial Reporting Exposure Draft (FRED) of Improvements to Financial Reporting Standards

On 11 June 2009 The Accounting Standards Board (ASB) issued a Financial Reporting Exposure Draft (FRED) of Improvements to Financial Reporting Standards so as to maintain the existing levels of convergence...

Jul 7, 2009

ASB Requires New Disclosures for Heritage Assets

The Accounting Standards Board has today issued a new Financial Reporting Standard that will improve the reporting of assets held by museums and art galleries...

Jun 23, 2009

IFAC Applauds US Administration

The International Federation of Accountants (IFAC) applauds the call by the US President for urgent progress toward the "development of a single set of high-quality global accounting standards."

Jun 23, 2009

New Regulatory Reserve Ratio for Credit Unions

Jun 16, 2009
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Fair Value Measurement

On 28 May 2009 the International Accounting Standards Board (IASB) published for public comment an exposure draft of draft guidance on fair value measurement...

Jun 16, 2009

Financial Reporting Council Publish Annual Report

The Financial Reporting Council (FRC) today publishes its Annual Report for 2008/09 and invites those with an interest in its work to attend its Annual Open Meeting on Thursday 16 July 2009...

May 27, 2009
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Financial Reporting Disclosure Issues Part 3

In Part 1 & 2 of this article we dealt with the common financial reporting issues within the Directors Report and Auditors Report which have become subject to particular scrutiny...

May 19, 2009

John Smith, Board member, IASB, addressed the European Commission Conference “Financial Reporting in a Changing World”

John Smith, Board member, addressed the European Commission Conference "Financial Reporting in a Changing World". An excerpt from the speech is reproduced below and the full speech is also available to be downloaded.

May 13, 2009
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IFAC's International Public Sector Standards Propose New Guidance to Strengthen Financial Reporting by Governments

The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) is expanding its guidance in two significant areas: accounting for intangible assets and entity combinations...

May 11, 2009

Financial Reporting Disclosure Issues Part 2

In Part 1 of this article we dealt with the common financial reporting issues within the Directors Report which have become subject to particular scrutiny by both the accounting institutes and representative/regulatory bodies. In this article we will discuss the common financial reporting disclosure issues which are prevalent in the Auditor’s Reports....

May 5, 2009

IFAC Releases 2009 Handbook of International Standards on Auditing & Quality Control

The International Federation of Accountants (IFAC) has released the 2009 Handbook of International Standards on Auditing and Quality Control...

May 1, 2009
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APB Issues Exposure Drafts of Clarified ISAs

...the Auditing Practices Board (APB) announced its intention to update its auditing standards for the new, clarified, International Standards on Auditing (ISAs)...

Apr 22, 2009

IASB concludes the 2007-2009 annual improvements

The International Accounting Standards Board (IASB) issued today Improvements to IFRSs -a collection of amendments to twelve International Financial Reporting Standards (IFRSs)...

Apr 20, 2009

Common Financial Reporting Disclosure Issues - Director's Report (Part 1)

Directors of every company (whether subject to audit or not) are responsible for ensuring that the company maintains proper accounting records and for preparing financial statements...

Apr 17, 2009

The APB announces its intention to update UK and Irish Auditing Standards for the New International Standards on Auditing for 2010

Following a period of consultation, the Auditing Practices Board (APB) is announcing its intention to update its auditing standards...

Apr 17, 2009

IFAC Press Release

IFAC President Robert L. Bunting calls for convergence of standards & resistance to knee-jerk regulation, in accepting award at LMU...

Mar 27, 2009

The Future Application of Irish GAAP

Mar 23, 2009

Financial Reporting Council to Review Combined Code

The UK governance watchdog is to review the effectiveness of the Combined Code on Corporate Governance in the light of the financial crisis...

Mar 23, 2009

ICAI welcomes guidance on the audit of credit unions

The Institute of Chartered Accountants in Ireland (ICAI) has welcomed the publication of Practice Note 27(I) The Audit of credit unions in the Republic of Ireland.

Dec 20, 2008

ICAI welcomes guidance on 'Going Concern' issue

The Institute of Chartered Accountants in Ireland (ICAI) has welcomed the publication by the Auditing Practices Board of a Bulletin entitled 'Going concern issues during the current economic conditions'. The purpose of the Bulletin is to provide guidance to auditors when forming opinions on directors� disclosures in annual accounts on going concern and liquidity risk issues.

Dec 16, 2008

ASB publishes Amendment to FRS8

The Accounting Standards Board (ASB) has today issued an Amendment to Financial Reporting Standard (FRS) 8 �Related Party Disclosures�. The Amendment reflects changes to the law introduced by �The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008� (the Regulations).

Dec 8, 2008

ICAI publishes submission on ODCE strategy statement

The Institute of Chartered Accountants in Ireland (ICAI) has published its response to the new statement of strategy from the Office of the Director for Corporate Enforcement.

Oct 3, 2008

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