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- The IASB has completed formal voting requirements on 30 June 2011. However, the exposure draft will be published in July so that it can be published on the same day as the equivalent FASB proposal. For more details go to http://www.ifrs.org/Current+Projects/IASB+Projects/IASB+Work+Plan.htm
- The Financial Accounting Standards Board (FASB) today announced the launch of its new web portal for nonpublic entities. The portal is designed to make the latest information about FASB activities focused on private companies and not-for-profit organizations easily accessible to stakeholders.
The launch of the Nonpublic Entities web portal is the latest in the series of changes in staffing, processes, communication, and outreach efforts that the FASB has been making to better serve the private company and not-for-profit sector.
The new web portal serves as a clearinghouse for information, resources, and links related to FASB projects of relevance to nonpublic entity stakeholders. It includes updates on recent decisions on FASB projects, as well as updates on upcoming meetings, outreach efforts, nonpublic entity webcasts, and recent meeting minutes.
In addition to offering “one-stop shopping” for FASB activities in the nonpublic entity arena, the web portal also links users directly to information about the Financial Accounting Foundation (FAF) initiative on nonpublic entities. This includes progress made by the FAF Trustee Working Group on its initiative to improve financial reporting for nonpublic entities.
The FASB nonpublic entities website portal can be accessed at www.fasb.org. - The IFRS Foundation currently provides free access to IFRS for SMEs and the current year’s consolidated unaccompanied IFRSs (i.e. Part A of the Red Book, without implementation guidance and the basis for conclusions) in English. However, access to the full set of standards, including implementation guidance and the basis for conclusions, requires an eIFRS subscription which is available on a chargeable basis.
The IFRS Foundation, as a private sector, not-for-profit organisation, relies in part on revenue generated from the sale of products and subscription services to fund its operations. This is why access to the full set of standards is currently chargeable.
All rights, including copyright, in the content of these web pages are owned or controlled by the IFRS Foundation.
The content of the website may not be hosted on any other website or translated, reprinted or reproduced in any way. By accessing the IFRS Foundation’s web pages, you agree to the copyright and terms of use of these pages (http://www.ifrs.org/Terms+and+Conditions.htm). You may download the content of these pages for your own personal non-commercial use only.
Registration and log-in
To access the unaccompanied IFRSs you need to be a registered user. Registration is free and takes only a few minutes. It allows you to access the unaccompanied IFRSs, the IFRS for SMEs, to register for email alerts, submit comment letters or register as an observer.
To register follow this link http://www.ifrs.org/IASB+Registration.htm
- Exposure Draft and comment letters
On 22 June 2011 the IASB published for public comment an exposure draft of proposed amendments to five International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently with a collection of narrow scope amendments to IFRSs.
The proposed amendments reflect issues discussed by the IASB in the project cycle that began in 2009. These amendments meet the enhanced criteria for the annual improvements process that were approved by the IFRS Foundation Trustees in February 2011 as part of a revision to the Due Process Handbook for the IASB. The revised criteria were developed to help determine whether a matter relating to the clarification or correction of IFRSs should be addressed using the annual improvements process.
Comment Letter deadline
The exposure draft is open for comments until 21 October 2011. Click on the next link to send a comment letter.
http://www.ifrs.org/Current+Projects/IASB+Projects/Annual+Improvements/ED+June+2011/Comment+letters/Comment+letters.htm
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