We are pleased to inform you about the launch of the consultation on the second set of national accounting standards, as part of the project of their updating. In May 2010 the project was launched with to address the need to take into account the developments in accounting that have occurred since their last revision.

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 second set of national accounting standards open for public consultation are:

• OIC 13 Inventories
• OIC 14 Cash and cash equivalents;
• OIC 15 Credits
• OIC 20 Debt securities

Each draft accounting standard is accompanied by a descriptive document, which presents the most relevant changes made to the text currently in force, 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 kindly invited to send any comments preferably by 31 October 2012 to the e-mail staffoic@fondazioneoic.it or by fax at 06.69766830.