International Accounting Standards Board (IASB)

1.  The IASB and the FASB have agreed to re-expose their revised proposals for a common revenue recognition project (Press Release).

2.  The IASB and the EFRAG have met to discuss the work plan and future agenda of the IASB (Press Release).

3.  The IASB has issued amendments to IAS 1 Presentation of Financial Statements which align the presentation requirements of other comprehensive income with the FASB (Press Release).

4.  The IASB have announced the completion of its project to improve the accounting for pensions and other post-employment benefits by issuing an amended version of IAS 19 Employee Benefits (Press Release).

5.  Registration is available for the  27 June 2011 webcast to introduce the amended version of IAS 19 Employee Benefits.

6.  The IASB has published for public comment an Exposure Draft of proposed amendments to five International Financial Reporting Standards under its annual improvements project (Press Release).

7.  The webcasts of the IFRS Foundation strategy review round tables are now available.

8.  The podcast summary of the June IASB meeting is now available.

9.  The IASB calendar has been updated.


International Accounting Education Standards Board (IAESB)

1.  The IAESB has released an Exposure Draft proposing revisions to IES 1 Entry Requirements to Professional Accounting Education (Press Release).

Financial Accounting Standards Board (FASB)

1.  The FASB has issued ASU 2011-05 Comprehensive Income (Topic 220): Presentation of Comprehensive Income, intended to increase the prominence of other comprehensive income in financial statements and align presentation requirements with the IASB (Press Release).

2.  The Action Alert for the 13-15 June 2011 FASB/IASB joint meeting is now available.

3.  The minutes from the following meetings are now available:

• 8 June 2011 FASB meeting on Revenue Recognition;
• 8 June 2011 FASB meeting on Accounting for Financial Instruments: Classification and Measurement;
• 13 June 2011 FASB/IASB joint meeting on Leases;
• 13 June 2011 FASB/IASB joint meeting on Investment Properties;
• 14 June 2011 FASB/IASB joint meeting on Accounting for Financial Instruments: Classification and Measurement;
• 14 June 2011 FASB/IASB joint meeting on Balance Sheet - Offsetting; and 
• 15 June 2011 FASB/IASB joint meeting on Leases.

4. The FASB calendar has been updated.

5. The Current Technical Plan and Project Updates page has been updated. 


U.S. Securities and Exchange Commission (SEC)

1.  The SEC Chief Accountant, James L. Kroeker, has given a speech discussing accounting and auditing matters. 

European Financial Reporting Advisory Group (EFRAG)

1.  The EFRAG has issued its comment letter in response to the second batch of draft Q&As to the IFRS for SMEs (Press Release).

2.  The summary of the 14 June 2011 meeting of the EFRAG with the IASB is now available.

3.  The June 2011 edition of the EFRAG Update newsletter is now available.

New Zealand Institute of Chartered Accountants (NZICA)

1.  The NZICA will be handing over the standard setting function to the External Reporting Board from 1 July 2011 (Press Release).