This issue of KPMG’s IFRS banking newsletter provides updates on IFRS development that directly impact banks and considers the potential accounting implications of regulatory requirements.
This checklist assists in preparing interim financial reports in accordance with IAS 34 Interim Financial Reporting.
In May 2011, the International Accounting Standards Board issued "IFRS 10 Consolidated Financial Statements" which provides guidance on when investments should be consolidated.
The FASB has issued Accounting Standards Update 2013-08, "Financial Services – Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements".
BerryDunn has issued a comment letter on FASB’s proposal to update the accounting rules for the allowance for loan losses.
On May 24, 2013, the Public Company Accounting Oversight Board announced that it had signed a Memorandum of Understanding with Chinese securities regulators that would enable the PCAOB under certain circumstances to obtain audit work papers of China-based audit firms.
All decisions reached at Board meetings are tentative and may be changed at future meetings. Decisions are included in an Exposure Draft only after a formal written ballot.
On May 7, 2013, the PCAOB reproposed for comment: (1) an auditing standard on related parties; (2) proposed amendments to certain PCAOB auditing standards regarding significant unusual transactions; and (3) other proposed amendments to PCAOB auditing standards.
The FASB met on May 23 to discuss its projects on revenue recognition, insurance contracts, and repurchase agreements and similar transactions.
Some leases impose requirements on a lessee to restore a facility to its original condition at the end of a lease or to uninstall and remove leasehold improvements.
Delaware is offering a voluntary disclosure program, touted by its secretary of state as a "good deal," to businesses that may not be in compliance with all of Delaware’s unclaimed property reporting requirements.
If your not-for-profit organization receives Federal awards, you will need to determine whether your entity is a recipient, a subrecipient or a vendor.
The Board is asking for comments on proposed modifications to the Master Glossary included in the FASB Accounting Standards Codification®.
The Board has issued a proposal to indefinitely defer the effective date for disclosing unobservable inputs in Level 3 fair value measurements of investments held by a nonpublic employee benefit plan in its private company plan sponsor.