International Accounting Standards Board (IASB)

1.  The January 2012 IFRS Update for Small and Medium-sized Entities (SMEs) is now available.

2.  Summary of the 12 January 2012 IFRS Foundation meeting is now available.

3.  IASB and Financial Accounting Standards Board (FASB) seek to reduce differences in classification and measurement models for financial instruments (Press Release).

4.  Summary of the conclusions of the January 2012 IFRS Foundation Trustees’ Due Process Oversight Committee (DPOC) meeting is now available.

5.  The summaries and audio files from the 17-18 January 2012 IFRS Interpretations Committee meeting are now available.

Financial Accounting Standards Board (FASB)

1.  FASB has issued a Proposed Accounting Standards Update – Intangibles – Goodwill and Other (Topic 350): Testing Indefinite–Lived Intangible Assets for comment by 24 April 2012.

Accounting Standards Board (AcSB)

1.  Registration for the 17 February 2012 AcSB roundtable discussion on the investment entity proposals issued by the IASB and the FASB is now available.

2.  AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft Transition Guidance (Proposed amendments to IFRS 10) for comment by 21 March 2012.

European Financial Reporting Advisory Group (EFRAG)

1.  EFRAG has issued the comment letter in response to the fourth batch of draft Questions & Answers related to the IFRS for SMEs.

2.  EFRAG has issued the draft comment letter on ESMA Consultation paper Considerations of Materiality in Financial Reporting for comment by 27 February 2012.

3.  EFRAG has issued an Invitation to Comment relating to the endorsement for use in the European Union of the Amendments to IAS 32 - Offsetting Financial Assets and Financial Liabilities and IFRS 7 - Disclosures - Offsetting Financial Assets and Financial Liabilities for comment by 25 February 2012.

4.  EFRAG endorsement status report has been updated.

Financial Reporting Council (FRC)

1.  The Accounting Standards Board (ASB) has issued financial reporting exposure drafts (FREDs) 46 to 48 setting out revised proposals for the future of financial reporting in the UK and Republic of Ireland for comment by 30 April 2012.