A matter of interpretation

Article Abstract:

The Standards Advisory Council (SAC) held its second meeting with the board and the new things that was apparent in the meeting was the growing realization that even if large areas of globe move over to International Financial Reporting Standards, difference in local interpretations diminishes the benefits of having a single set of global standards. Under the revised constitution, the SAC has a specific liaison member on the board of IASCF trustees.

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US dangles listing carrot

Article Abstract:

The dropping of the United States Securities and Exchange Commission's reconciliation requirement for IFRS (International Financial Reporting Standards) was stated at the International Accounting Standards Board's (IASB's) annual world standard-setter's conference in the year 2004. The IASB's interactions with the national standards boards indicate that its relationship with the national ASB's could be turbulent in the future.

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Blueprint for the future

Article Abstract:

The International Accounting Standards Board's agenda included the high priority projects of accounting for share-based payments, business combinations, performance reporting and accounting for insurance contracts.

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