News

IASB proposes Severe Hyperinflation amendment to IFRS 1

The IASB has today published for public comment an exposure draft Severe Hyperinflation, a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The exposure draft, Severe Hyperinflation, is open for comment until 30 November 2010. The document is available on the IASB website. Please find the press release herewith...

EFRAG-OIC outreach event “Financial Statement Presentation”

EFRAG and the Organismo Italiano di Contabilità (OIC) would like to invite you to participate in an Outreach event. The aim of this event is to assist the IASB in its efforts to gather views from European constituents on decisions made to date on the Financial Statement Presentation project, prior to finalising the exposure draft and to inform itself of whether and to what extent, EFRAG’s preliminary views are...

IASB/FASB: the first phase of the project “Conceptual Framework” has been completed

The IASB and the US Financial Accounting Standards Board (FASB) have today announced the completion of the first phase of their joint project to develop an improved conceptual framework for IFRSs and US GAAP. For more information, please refer to the IASB website.Please find the press release herewith...

OIC’s comment on IASB ED Presentation of Items of Other Comprehensive Income

The OIC’s comment letter on IASB ED Presentation of Items of Other Comprehensive Income, in reply to EFRAG’s draft comment letter is now available. The same comments have been sent to the IASB. The document is enclosed.  

IASB issues ED Deferred Tax: Recovery of Underlying Assets

The IASB has published for public comment an exposure draft Deferred Tax: Recovery of Underlying Assets. The exposure draft is open for comment until 9 November 2010.  The document is available on the IASB website. Please find the press release herewith attached.

IASB’s questionnaires on ED Leases

The IASB and the US Financial Accounting Standards Board (FASB) published a questionnaire for lessees and lessors as part of their outreach on the Leases project. In the questionnaire, the boards are surveying organisations on their use of, and accounting for, leases. Completing the questionnaire does not require knowledge of the boards’ proposals. For more details, click here. The deadline to complete the...

IASB published several documents for public comment

In August the IASB published for public comment the following exposure drafts: • Leases. The proposals of ED are one of the main projects included in the boards’ Memorandum of Understanding. The exposure draft is open for comment until 15 December 2010; • Removal of Fixed Dates for First-time Adopters. It proposes amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards. The...

OIC’s comment on IASB ED Measurement Uncertainty Analysis Disclosure for fair value measurement

The OIC’s comment letter on IASB ED Measurement Uncertainty Analysis Disclosure for fair value measurement is now available. The same comments have been sent to the EFRAG. The document is enclosed.