News

IFRS Application No 2.1 “Impairment e avviamento” for the banking sector published

The Executive Board of the OIC published the IFRS Application No 2.1 “Impairment e avviamento” for the banking sector. This application provides some considerations and examples on how to apply IAS 36 to the banking sector. This sector, in fact, due to the type of business, presents some peculiarities in performing the impairment of goodwill. The Application integrates the general aspects analyzed in...

OIC’s comments on Status on Trustees ‘Strategy Review’

The OIC’s comment letter on the consultation document issued by the Trustees of the IFRS Foundation on Strategy Review is now available. Please find the document herewith attached.

Commission Regulation (EU) No 149/2011 adopts Improvements to IFRSs

The Commission Regulation (EU) No 149/2011 of 18 February 2011, published in the Official Journal of the European Union L 46 on 19 February 2011, adopts Improvements to IFRSs. The majority of the amendments are clarifications or corrections of existing International Financial Reporting Standards (IFRS) or amendments consequential to changes previously made to...

EFRAG-IASB Financial Instruments discussion forum

EFRAG is hosting an IASB discussion forum to provide European stakeholders with the opportunity to ask questions, raise possible concerns and provide comments about the IASB’s proposals on hedge accounting, impairment of financial assets and offsetting of financial assets and liabilities, in an open dialogue with an IASB delegation of Board members and staff. Input received will best inform the IASB of those of...

Monitoring Board releases report on governance review for public consultation

The Monitoring Board today released a document “Consultative Report on the Review of the IFRS Foundation’s Governance” for public comment. The report will be open for public comment for a period of two months, until 8 April 2011. The document is available on the website of the IOSCO. Please find the press release herewith...

OIC’s comments on IASB Request for Views Effective Dates and Transition Methods

The OIC’s comment letter on IASB Request for Views Effective Dates and Transition Methods is now available. The document is enclosed.

OIC’s comments on Review of the operational efficiency and effectiveness of the IFRS Interpretations Committee

The OIC’s comment letter on the Trustees consultation document on Review of the operational efficiency and effectiveness of the IFRS Interpretations Committee is now available. The same comments have been sent to the EFRAG. The document is...

EFRAG and UK ASB issue DP Considering the Effects of Accounting Standards

The EFRAG and the Accounting Standards Board (UK ASB) of the FRC have published a Discussion Paper, ‘Considering the Effects of Accounting Standards’. The objective of the project is to contribute to improving the way in which accounting standard setters develop and implement standards. The proposals subject to discussion call on standard setters to consider the effects of accounting standards throughout their...