Countdown - Deloitte Canada’s IFRS transition newsletter

Deloitte Canada has published the March 2009 issue of the Countdown IFRS transition newsletter. The newsletter discusses practical issues Canadian companies are facing in IFRS transition and provides an update on recent IFRS events. (Also refer to other Deloitte IFRS Resources.)

IFRIC Update – March 2009

Periodically, the International Accounting Standards Board (IASB) publishes newsletters on its activities. The IFRIC Update is published as a convenience to the IASB’s constituents. The reported conclusions are tentative and may be changed or modified at future IFRIC meetings.

Financial Crisis Advisory Group Distributes Letter to G-20

The IASB / FASB joint Financial Crisis Advisory Group (FCAG) has issued a letter for distribution to the members of the G-20. (Read the FCAG Letter.)

Webcast on SEC's XBRL implementation requirements

The Securities and Exchange Commission (SEC) recently released its rules requiring public companies to submit their financial statements in XBRL format. A CPA panel will present a live webcast on April 1, 2009 (from 2 p.m. to 3:30 p.m.) to explain XBRL implementation requirements. The panel will discuss the effects of the SEC's rules on companies, accountants and investors and how this technology will change the way companies communicate and disseminate information to stakeholders. (Register for the free webcast online.)

EFRAG endorses revision to IFRS 1

The European Financial Reporting Advisory Group (EFRAG) has submitted to the European Commission its Endorsement Advice regarding the revision to IFRS 1 "First-time Adoption of International Financial Reporting Standards." EFRAG's advice is that the revision to IFRS 1 should be endorsed. (Read the EFRAG Endorsement Advice Letter and the Effects Study Report.)