News

OIC and the National Standard Setters of France, Germany and the UK jointly with EFRAG publish the Bulletin Complexity

The national standard setters of France, Germany, Italy and the UK jointly with EFRAG have published the Bulletin Complexity to promote discussion, and to help form European views that are influential in the debate on the IFRS Conceptual Framework. Many recent reports have expressed concern that financial statements have become too complex, to the detriment of users’ understanding. These reports acknowledge...

IASB begins public consultation on Post-implementation Review of IFRS 3

The IASB began the public consultation stage of its review of IFRS 3 Business Combinations by publishing a Request for Information (RfI) on experience with, and the effect of, implementing the Standard. The RfI is open for public consultation until 30 May...

IASB issues IFRS 14 Regulatory Deferral Accounts

The IASB issued an interim Standard, IFRS 14 Regulatory Deferral Accounts. IFRS 14 permits first-time adopters to continue to recognise amounts related to rate regulation in accordance with their previous GAAP requirements when they adopt IFRS. However, to enhance comparability with entities that already apply IFRS and do not recognise such amounts, the Standard requires that the effect of rate regulation must...

Draft accounting standard on the derecognition of credits, included in the OIC 15

We are pleased to inform you about the launch of the consultation on the draft of the national accounting standard on the derecognition of the credits. This document integrates the OIC 15 Credits, in the version issued for public comments in April 2012. The draft accounting standard is accompanied by a descriptive document, which presents the most relevant aspects, in order to facilitate the analysis of the...

Draft OIC 10 Cash Flow Statement issued for public comments

We are pleased to inform you about the launch of the consultation on the draft of the national accounting standard OIC 10 Cash Flow Statement. The draft accounting standard is accompanied by a descriptive document, which presents the most relevant aspects, in order to facilitate the analysis of the document and to stimulate comments. The drafts open for comments can be downloaded from the project page. You are...

OIC comments on EFRAG draft endorsement advice on IASB Amendments to IAS 19 – Defined Benefit Plans: Employee Contributions

The OIC comment letter on EFRAG draft endorsement advice on IASB Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) is now available. Please find the document herewith attached.

OIC comments on the EFRAG draft comment letter on the IASB DP A Review of the Conceptual Framework for Financial Reporting

The OIC comment letter on EFRAG draft comment letter on IASB DP A Review of the Conceptual Framework for Financial Reporting is now available. Please find the document herewith attached.

Draft OIC 28 Equity issued for public comments

We are pleased to inform you about the launch of the consultation on the draft of the national accounting standard OIC 28 Equity, as part of the project of their updating. The OIC aims to improve the structure of national accounting standards in order to make them easier to read and at the same time to facilitate updates and amendments that will be necessary in the future. The draft accounting standard is...