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July
Release of GAAP Alert No. 122008 (15 July 2008) (4700 words) includes 18 Australian and international financial reporting, auditing and corporate governance developments
- Hot Spot: Fair Value Disclosures – Is There an Active Market?
- New Standard on Valuation Services by APESB
- Revised Ethical Standard on Compilations
- Compiled Code of Ethics Released by APESB
- New Auditing Standard on Compliance Engagements
- Guidance on New Section in Auditor’s Report on Remuneration Disclosures Issued by AUASB
- ASIC Proposals to Improve Disclosure by Unlisted Mortgage and Property Schemes
- IASB June Meeting Highlights
- IASB July Meeting Agenda
- IFRIC Interpretation on Agreements for Construction of Real Estate
- IFRIC Interpretation on Hedges of a Net Investment in a Foreign Operation
- IFRIC July Meeting Agenda
- Good Practice Guide for Audit Committees
- Revised Supplementary Guidance to Principle 7 ‘Recognise and Manage Risk’
- Former Company Secretary Charged
- Governance and Costing EDs Released by IFAC
- Your Needs = Our Independent Expert Advice
- Outstanding Exposure Drafts
June
Release of GAAP Alert No. 112008 (30 June 2008) (5400 words)
- Hot Spot: Impairment for 30 June 2008
- AASB June Meeting Highlights
- ASIC Focus for 30 June Reporting Period
- FRC June Meeting Highlights
- ASX Findings from Review of Director Trades
- Directors’ Share Trading Findings and ASIC Guide
- Continued Improvement in Corporate Governance Reporting
- Climate Change Reporting from 1 July 2008
- New Framework for Cross Border Financial Recognition
- Improved Governance for AASB and AUASB
- APRA Finalises Refinements to General Insurance Prudential Framework
- AUASB June Meeting Highlights
- CaseWare Audit and Financial Update
- Changes to SMSFs Contravention Reporting
- APRA Releases New Superfund Audit Report
- Highlights of IASB Financial Instruments Valuation Panel
- IFAC EDs on Principles-Based Guidance on Governance and Costing
- Outstanding Exposure Drafts
Release of GAAP Alert No. 102008 (15 June 2008) (5300 words)
- Regulation Hot Spot: Highlights of ASIC Accounting Liaison Meeting
- Amendments to Remuneration of Key Management Personnel
- AASB June Meeting Agenda
- Strengthened Independence Requirements from 1 July 2008
- Ethics EDs Prospective Financial Reporting and Conformity with Auditing Standards
- ED on Forensic Accounting Services by APESB
- APESB Withdraws Superseded Professional Statements
- AUASB June Meeting Agenda
- Results of ASIC’s Audit Inspection Program
- Rio Tinto $100,000 Continuous Disclosure Fine
- Reporting to Shareholders by G100
- IASB May Meeting Highlights
- IASB June Meeting Agenda
- IASB Forms Expert Advisory Panel on Financial Instruments Valuation
- IOSCO’s Recommendations to Address Subprime Crisis
- IOSCO to Expand Review of Audit Services
- IPSASB June Meeting Agenda
- Financial Reporting of Heritage Assets Update
May
Release of GAAP Alert No. 92008 (31 May 2008) (5300 words)
- Audit Hot Spot – Impairment, Fair Values and Estimates
- AASB May Meeting Highlights
- Insights into Forthcoming Report on ASIC Audit Inspections
- AUASB June Meeting Agenda
- Australian Review of Credit Rating Agencies
- APRA Releases Service Charter
- Report on Sub-prime Mortgage Crisis by ICAA
- IASB Amendments for Determining the Cost of an Investment
- IASB First Annual Improvements Project Concluded
- Conceptual Framework Due Process Documents Issued by IASB and FASB
- Tougher Independence Rules Proposed by IESBA
- IFAC Seeks Public Members for IAASB
- IFAC Paper on Crucial Role of Professional Accountants in Mid-sized Enterprises
- Financial Reporting Supply Chain Report by IFAC
- Sustainability Reporting Guide Released by G100
- GAAP Training Insights
Release of GAAP Alert No. 82008 (15 May 2008) (2700 words)
- AASB May Meeting Agenda
- APESB May Meeting Highlights
- ASIC Financial Reporting and Auditing Targets for 30 June 2008
- APRA Research on Superannuation Fund Governance
- IASB May Meeting Agenda
- IFRIC May Meeting Highlights
- Review of the IPASB
- IASB Trustees Constitution Proposals
Presentation Feedback: GAAP Consulting was pleased to participate in a series of seminars (Sydney, Melbourne and Perth) run by Task Technology, the Australian distributors of CaseWare audit and accounting software. The feedback from participants included:
- “The AASB session, Colin Parker’s session on upcoming AASB changes - useful and relevant heads up. Appreciate it.
- Colin Parker’s auditing update was most useful
- The inclusion of Colin Parker was excellent, and
- There were some good accounting updates from Colin that were useful in seeing where the audit profession is heading in the future’.
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