Financial and Accounting News

• July 5, 2011 IAASB Seeks Global Views on Enhancing the Value of Auditor Reporting The International Auditing and Assurance Standards Board (IAASB) today released its consultation paper, Enhancing the Value of Auditor Reporting: Exploring Options for Change, to obtain views on enhancing the quality, ...
• July 5, 2011 New Publication from ISACA and IFAC Helps Organizations Maximize the Value of XBRL (Rolling Meadows, IL and New York, NY/June 22, 2011) ISACA and the International Federation of Accountants (IFAC)’s Professional Accountants in Business (PAIB) Committee have jointly developed a paper, Leveraging XBRL ...
• July 4, 2011 IAESB Proposes Clarified Standard on Professional Accounting Education Entry Requirements (New York/June 21, 2011) The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 1, Entry Requirements to a Program of ...
• July 4, 2011 New Publication From ISACA and IFAC Helps Organizations Maximize the Value of XBRL (Rolling Meadows, IL and New York, NY/June 22, 2011) ISACA and the International Federation of Accountants (IFAC)’s Professional Accountants in Business (PAIB) Committee have jointly developed a paper, Leveraging ...
• July 4, 2011 Auditors Criticise EU Farm Payment System The EU's main audit body says agricultural subsidies - the biggest item in the EU budget - often go to people who do little or no farming. A new report by the European Court of Auditors complains of deficiencies ...
• July 3, 2011 IASB and FASB issue Common Fair Value Measurement and Disclosure Requirements The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting ...
• July 3, 2011 Moving to IFRS: Delays and More Delays There have been some interesting recent developments in countries that are considering transition to IFRS: the SEC is still due to decide later this year whether/when and how to incorporate IFRS into the US financial ...
• July 2, 2011 CEC and UK Collide over Foreign Company Tax THE MISSIVE FR OM the European Commission last week criticising the UK's controlled foreign companies (CFC) legislation should not, at first glance, provide too many problems for the government. The EC criticised the UK ...
• July 2, 2011 Controlled Foreign Companies Consultation Launched TAX LAWS surrounding controlled foreign companies (CFCs) came under scrutiny today as the government launched a consultation to reform the complex legal area. CFCs are based abroad but controlled by someone who lives in ...
• July 2, 2011 HMRC begins first phase of Business Records Checks Over 1,000 small and medium-sized enterprises (SMEs) will be targeted in HMRC’s first round of Business Records Checks (BRC). Following a period of consultation, the taxman is already arranging visits to ...