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    OTHER RELEVANT DEVELOPMENTS

    Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by U.S. Issuers
    The United States SEC has invited comments on the potential use of IFRS by domestic issuers. Following are the questions to which they seek responses (kindly provided by David Albrecht, who is very vocal about why the US should NOT adopt IFRS). We do not support David's views, but provide the link in the interest of full disclosure and transparency and to foster productive discussion. The full text of the Proposed Roadmap can be accessed HERE.

    1. Do commenters agree that U.S. investors, U.S. issuers and U.S. markets would benefit from the development and use of a single set of globally accepted accounting standards? Why or why not? What are commenters' views on the potential for IFRS as issued by the IASB as the single set of globally accepted accounting standards?

    2. Do commenters agree that the milestones and considerations described in Section III.A. of this release ("Milestones to be Achieved Leading to the Use of IFRS by U.S. Issuers") comprise a framework through which the Commission can effectively evaluate whether IFRS financial statements should be used by U.S. issuers in their filings with the Commission? Are any of the proposed milestones not relevant to the Commission's evaluation? Are there any other milestones that the Commission should consider?

    3. Do commenters agree with the timing presented by the milestones? Why or why not? In particular, do commenters agree that the Commission should make a determination in 2011 whether to require use of IFRS by U.S. issuers? Should the Commission make a determination earlier or later than 2011? Are there any other timing considerations that the Commission should take into account?


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    International Federation of Accountants (IFAC)

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    Accounting Standards for Small and Medium Entities (SMEs)

    Almost there!

    A near-final draft of the standard has been issued and is available on the IASB's website to subscribers of their eIFRS service.

    The name of the of the standard has once more been revised to International Financial Reporting Standard for Small and Medium-sized Entities. While the standard has been greatly simplified when compared to full IFRS, requirements still exist for Deferred Tax accounting and Defined Benefit pension accounting.

    All things being equal, the final standard should be issued within the next few weeks. 

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    Useful Web Links

    Trinidad and Tobago
    Acronym
    Organization
    Weblink
    CBTT
    Central Bank of Trinidad and Tobago
    ICATT
    Institute of Chartered Accountants of Trinidad and Tobago
    TTSEC
    Trinidad and Tobago Securities and Exchange Commission
    TTSE
    The Trinidad and Tobago Stock Exchange

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    Other Caribbean Territories
    Acronym
    Organization
    Weblink
    BICA
    The Bahamas Institute of Chartered Accountants
    CARICOM
    The Caribbean Community
    ICAB (Barbados)
    Institute of Chartered Accountants of Barbados
    ICAB (Belize)
    Institute of Chartered Accountants of Belize

    ICAC
    Institute of Chartered Accountants of the Caribbean

    ICAG

    Institute of Chartered Accountants of Guyana

    http://www.sdnp.org.gy/icag/

    ICAJ

    Institute of Chartered Accountants of Jamaica

    http://www.icaj.org/

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    Rest of the world
    Acronym
    Organization
    Weblink
    AICPA
    American Institute of Certified Public Accountants
    CGA
    CGA Canada
    ECSAFA
    Eastern Central and Southern African Federation of Accountants
    FASB
    Financial Accounting Standards board
    IAS Plus
    IAS Plus

    IASB

    International Accounting Standards Board

    ICAEW

    The Institute of Chartered Accountants of England and Wales

    IFAC

    International Federation of Accountants

    IOSCO

    International Organization of Securities Commissions

    Sarbanes-Oxley

    Sarbanes Oxley

    United States SEC

    Securities and Exchange Commission (US)

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    Britannica
    A terrific resource for background information on practically everything.

    Healthyeating.net
    Healthy eating resources, news, websites.

     
     
     

    We will be updating these links frequently so be sure to check back often.

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