News

IASB launches a public consultation on its future work programme

The IASB launched today a public consultation to seek broad public input on the strategic direction and overall balance of its future work programme. The consultation period on the future work programme of the IASB closes on 30 November 2011. The document The Agenda Consultation 2011—Request for views is available on the IFRS Foundation website. Please find the press release herewith...

IASB issues ED Improvements to IFRSs

The IASB published for public comment an exposure draft Improvements to IFRSs. The ED is open for comments until 21 October 2011. It is available on the IASB website. Please find the press release herewith attached.

IASB issues Amendments to IAS 1: Presentation of Items of Other Comprehensive Income

The IASB  issued today amendments to IAS 1 that will improve and align the presentation of items of other comprehensive income (OCI) in financial statements prepared in accordance with IFRSs and those prepared in accordance with US GAAP.  The FASB today issued an Update to Topic 220: Presentation of Comprehensive Income that brings US GAAP into alignment with IFRSs for the presentation of OCI. The amendments to...

IASB issues an amended version of IAS 19 Employee Benefits

The IASB announced today the completion of its project to improve the accounting for pensions and other post-employment benefits by issuing an amended version of IAS 19 Employee Benefits. The new version of IAS 19 comes into effect for financial years beginning on or after 1 January 2013. Earlier application is permitted. Please find the press release herewith attached.

Accounting standard No 1 for the non profit sector

The first accounting standard for the non-profit sector, prepared by the technical panel of consiglio Nazionale dei dottori commercialisti ed Esperti contabili (CNDCEC), Agenzia per le Onlus (now Agenzia per il Terzo settore) and OIC (Organismo italiano di Contabilità), open for comment from October 2010 to January 2011, has been approved in its final version, with some changes due to comments received. It is...

IASB issued IFRS 10, IFRS 11, IFRS 12 and IFRS 13

Today, the IASB has published the following IFRSs: - IFRS 10 Consolidated Financial Statements, - IFRS 11 Joint Arrangements, - IFRS 12 Disclosure of Interests in Other Entities. These standards are effective from 1 January 2013. Earlier application is permitted. The IASB and FASB has issued new guidance on fair value measurement and disclosure requirements for IFRSs and US GAAP. In particular, the IASB has...

OIC’s comments on Consultative Report on the Review of the IFRS Foundation’s Governance

The OIC’s comment letter on the “Consultative Report on the Review of the IFRS Foundation’s Governance” is now available. Please find the document herewith attached.

IFRS Application No 2.2 “Impairment e avviamento” for the insurance sector published

The Executive Board of the OIC published the IFRS Application No 2.2 “Impairment e avviamento” for the insurance sector. The Application integrates the general aspects analyzed in the Application OIC No 2 and it shall be read in conjunction with it. The aim of the document is to analyze some peculiarities of the insurance sector in performing the impairment of goodwill.  The document applies for the...