International Accounting Standards Board 30 Cannon Street London EC4M 6XH. Our Ref: TECH-CDR March Dear Sirs. Management Commentary
|
|
- Warren Joseph
- 5 years ago
- Views:
Transcription
1 International Accounting Standards Board 30 Cannon Street London EC4M 6XH Our Ref: TECH-CDR March 2010 Dear Sirs Management Commentary ACCA (the Association of Chartered Certified Accountants) is pleased to have this opportunity to comment on the IASB s exposure draft (ED) on the above subject. Since the ED was published, ACCA has consulted its members internationally on the key issues raised within it, through a series of round-table debates and focus group meetings. The consultation was also considered by ACCA s Financial Reporting Committee and the views expressed in this letter take into consideration the opinions of the Committee, informed by the wider consultation with members. General comments We believe that the lack of any kind of guidance on management commentary (MC) does represent a gap in the IASB system and we therefore welcome the IASB moving forward on this project, especially as we are aware of the many competing and potentially higher priority projects attracting the attention of the Board. Many of these projects understandably deal with measurement and recognition issues relating to the financial crisis. However, we firmly believe that the recent financial crisis has also highlighted the need for quality contextual information to supplement the financial statements in order for users to fully understand how a business is performing. Regardless of whether a guidance document or an IFRS is finally issued by the Board, we believe that the conclusion of the project will have a positive impact on corporate reporting worldwide. It should help to increase comparability in financial reports across jurisdictions as well as providing a blueprint/benchmark for national authorities to use. The guidance/standard from the IASB will be
2 particularly useful for those jurisdictions where there is not a well established framework for providing MC. We consider there is a case for the Board issuing a non-mandatory (along the lines of IAS34) standard for MC. It might encourage provision of MC by a larger number of companies and encourage greater quality of reports provided by making clear whether any such statement reached the IFRS benchmark or not. However, on balance we support the Board in initially producing guidance in the form of a best practice statement based on key principles, which would allow management to determine and then disclose the most useful information in their commentary. This would also help to avoid potential conflicts with other regulatory requirements regarding information akin to MC. This point was particular stressed by the focus groups from countries where such reporting is already mandatory under local regulations. For example members in Hong Kong echoed the views of members in the UK, when they suggested that were management commentary [to] be an IFRS where an IFRS compliant financial statement is required, conflict may arise for the compliance of Hong Kong Listing Rules. In view of this, all participants considered it more appropriate for the document to be a non-mandatory guidance so that flexibility is allowed in the preparation of the management commentary. Overall, we support the principles and the content elements proposed in the ED as being reasonable and necessary. However, we would like to see greater emphasis placed in the guidance on the need for management to include, to the extent they consider necessary, appropriate corporate social responsibility reporting. Not only is such information relevant to other stakeholders, but it is often sufficiently important to investors to need to be reported in the annual report. Specific questions raised in ED Question 1 Do you agree with the Board s decision to develop a guidance document for the preparation and presentation of the management commentary instead of an IFRS? If not, why? We strongly believe that MC is a crucial part of the annual report and therefore of the financial reporting framework. By providing supplementary information,
3 sound MC should help to contextualise the accompanying financial statements and improve their understandability. Clearly different jurisdictions have varying levels of guidance and authority associated with it. For many of the countries that already have well-developed guidance/requirements, there is not likely to be a major impact on the way they currently prepare MC information. However, as this form of guidance from the IASB is likely to have a level of authority, we believe that at a global level, it will help to enhance the standard of MC reporting, especially for those countries that do not have relatively advanced MC reporting requirements. By bringing consistency between MC reporting in these jurisdictions, there could also be a more level playing field for companies that have to provide such information, while other similar companies, based in other countries do not. In this respect, we acknowledge the alternative views on the ED, which question whether the IASB s objectives of enhancing consistency and comparability could be achieved if the framework is not made mandatory. Any requirements through an IFRS would help to guarantee this consistency, as well as encouraging greater quality and provision of MC by companies. However, during our deliberations on this matter, which included views from members in a number of jurisdictions that do not presently have well developed MC guidance, there was support that such guidance would help MC reporting in their countries. Not only will companies already reporting under IFRS look at applying the guidance, but it could also provide regulators with a framework to develop more authoritative requirements in this area. Furthermore, given the varying levels of existing practice of MC reporting and how it is evolving around the world, a standard could create inconsistencies with any existing requirements and generate compliance issues. We therefore agree with the conclusions of the Board in developing non-mandatory guidance for the foreseeable future. Question 2 Do you agree that the content elements described in paragraphs are necessary for the preparation of a decision-useful management commentary? If
4 not, how should those content elements be changed to provide decision-useful information to users of financial reports? We support a principles based approach towards the content of MC. Proposing detailed requirements, even in a guidance document, could result in boilerplate information and a checklist mentality when preparing the MC for many companies. This would detract from the added value that the MC can offer. Furthermore, by keeping to a principles based approach, with high level guidance, the guidance would be more suitable for development by regulators in individual jurisdictions, while not creating inconsistencies with existing requirements in other countries. We therefore support the principles and content elements of MC outlined in the ED. These are suitably high level to allow management to provide an analysis of the business and to assist users to understand the entity s financial statements as well as management s objectives and strategies for achieving those objectives. Clearly the Board has reviewed the requirements in jurisdictions where there is already a robust framework for management discussion and analysis as part of the reporting process. It is no surprise therefore that the proposals echo the MD&A requirements of the SEC and the business review requirements in the UK for example. However, we do note that the UK Companies Act 2006 and the Modernisation Directive (Directive 2003/51/EC) from the European Commission, also specifically expect listed companies to report on corporate, social responsibility (CSR) issues from the perspective of the business. We believe that issues regarding sustainability reporting are increasingly important to equity shareholders as well as other users of corporate reports. Therefore the Board should refer to this explicitly within the content elements, although emphasis should be placed on whether such information is material to a holistic understanding of the accounts and the business. Otherwise, such CSR reporting may be better placed in other parts of the broader corporate reporting framework. We also note that the UK Companies Act requirements, while emphasising the need to provide unbiased disclosure on factors likely to affect the future of the business, exempts companies from disclosing information on impending developments if it would, in the opinion of the directors, be seriously prejudicial to the interests of the company (section 417(10) CA2006). We
5 believe that such an exemption should also be included in the guidance from the IASB. Question 3 Do you agree with the Board s decision not to include detailed application guidance and illustrative examples in the final management commentary guidance document? If not, what specific guidance would you include and why? We agree that detailed application guidance is not necessary or desirable. The general, high level guidance in the ED allows for the right level of flexibility and opportunity to apply judgement as what is most relevant to both management and other users. Other comments Users of management commentary We agree with the Board that if MC is to provide context for a set of financial statements within a set of financial reports, it should be aimed at the same set of primary users as the financial statements. In our response to the IASB s exposure draft Objective of financial reporting and qualitative characteristics, dated 27 October 2008, we raised concerns about the perceived group of users (providers of capital in general) of financial reports being too wide. We would reiterate that in our view, the primary user group to be equity shareholders, and would also note that in its 2005 discussion paper on Management commentary, the IASB also identified investors as the primary users of MC itself. As we noted in our comments letter on the discussion paper, dated 28 April 2006, we agree with an investor focus of MC, although recognise that many stakeholders should find the information useful as well. We would rather management be encouraged to bear in mind that the concerns of other stakeholders (for example employees or those monitoring CSR) can often be of sufficient importance to investors to need to be reported. Wider social concerns about an entity can affect its licence to operate and therefore its ability to
6 generate returns for investors. However, the materiality of these matters to the overall business and the financial reports should also be considered by management when making such disclosures. Qualitative characteristics While we would support an overall consistency between the qualities of information provided in the financial statements and MC, we have concerns about how the characteristic of verifiability would match up against MC from a practical viewpoint. As useful and relevant MC should include an element of prospective information, there is an inherent limit on how much assurance there can be on such information being verified both from the perspective of preparers and auditors. The fundamental qualitative characteristic of faithful representation should suffice for MC in this context. We do not agree with concerns raised in the alternative views regarding neutrality. Regardless of the fact that MC is the management s view of the entity, we believe that financial reporting has to be neutral in order for it to be relevant and to provide faithful representation. If there are any matters arising from the above please do contact me. Yours sincerely Aziz Tayyebi Financial reporting officer ACCA aziz.tayyebi@accaglobal.com
Assess record for 'Disclosure of Non-Financial Information by Companies'
Page 1 of 5 Assess record for 'Disclosure of Non-Financial Information by Companies' Meta Informations Creation date 24-01-2011 Last update date User name null Case Number 964932351071702411 Invitation
More informationRe: Comments on IASB s Discussion Paper, A Review of the Conceptual Framework for Financial Reporting
January 14, 2014 Mr. Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Hans, Re: Comments on IASB s Discussion Paper, A Review of the
More informationRe: Request for Views Trustees Review of Structure and Effectiveness: Issues for the Review
Michel Prada Chairman IFRS Foundation 30 Cannon Street London EC4M 6XH United Kingdom 21 December 2015 Dear Michel, Re: Request for Views Trustees Review of Structure and Effectiveness: Issues for the
More information29 September International Accounting Standards Board 30 Cannon Street, London EC4M BXH. United Kingdom. Dear Madam, dear Sir
29 September 2008 International Accounting Standards Board 30 Cannon Street, London EC4M BXH United Kingdom Tower 42 25 Old Broad Street London EC2N 1HQ United Kingdom t + 44 (0) 20 7382 1770 f + 44 (0)
More informationFinally, the IASB needs to raise the profile of the CP to ensure preparers understand the role of the CP and when to apply it.
1 30 November 2015 The Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Sir Exposure Draft 2015/3 Conceptual Framework for Financial Reporting Thank
More informationRe: Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting
Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Email: commentletters@ifrs.org 9 November 2015 Re: Exposure Draft ED/2015/3 Conceptual
More informationIASB Request for Information of Post-Implementation Review: IFRS 3 Business Combinations
Our Ref.: C/FRSC Sent electronically through the IASB Website (www.ifrs.org) 30 May 2014 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Sirs, IASB Request
More informationINSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF UGANDA
INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF UGANDA 1 December 2015 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Sir/Madam, ICPAU SUBMISSION ON ED/2015/3
More informationRe: IASB discussion paper on 'Preliminary views on accounting standard for small and medium-sized entities'
LEASEUROPE 267, Av. de Tervuren B 1150 Bruxelles +32/2/778 05 60 Fax +32/2/778 05 79 Email : m.schmit@leaseurope.org European Federation of Equipment Leasing Companies Association Fédération Européenne
More informationRe: Comments on IASB s Exposure Draft, Revenue from Contracts with Customers (ED/2010/6)
November 15, 2010 Sir David Tweedie Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear David, Re: Comments on IASB s Exposure Draft, Revenue from Contracts
More informationJune 10, Dear Ms Fox
June 10, 2011 Ms. Stephenie Fox Technical Director International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington Street West, 6th Floor Toronto Ontario M5V
More informationRe: Effects of using International Financial Reporting Standards (IFRS) in the European Union (EU).
European Commission SPA2 00/089 1049 Brussels Belgium Submitted via e-mail MARKT-F3@ec.europa.eu Wojciech.FURMANSKI@ec.europa.eu 7 November 2014 Dear Sir/Madam Re: Effects of using International Financial
More informationMr Hans Hoogervorst International Accounting Standards Board 1 st Floor 30 Cannon Street London EC4M 6XH. MV/288 Mark Vaessen.
Tel +44 (0)20 7694 8871 15 Canada Square mark.vaessen@kpmgifrg.com London E14 5GL United Kingdom Mr Hans Hoogervorst International Accounting Standards Board 1 st Floor 30 Cannon Street London EC4M 6XH
More informationSubmission on Exposure Draft ED 264: Conceptual Framework for Financial Reporting
5 November 2015 Kris Peach Chair Australian Accounting Standards Board Podium Level, Level 14, 530 Collins Street Melbourne, VIC 3000 Australia CPA Australia Ltd ABN 64 008 392 452 Level 20, 28 Freshwater
More informationReview of Conceptual Framework Objective and Qualitative Characteristics
International Financial Reporting Standards Review of Conceptual Framework Objective and Qualitative Characteristics Stephen Cooper IASB Member Rachel Knubley Technical Principal Amy Bannister Technical
More informationRe: FEE comments on IASB Exposure Draft Conceptual Framework for Financial Reporting (ED/2015/3) Role of the Conceptual Framework
Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street GB LONDON EC4M 6XH E-mail: commentletters@ifrs.org 18 November 2015 Ref.: ACC/PFK/HBL/PPA/VRA Dear Mr Hoogervorst,
More informationDeloitte Touche Tohmatsu is pleased to comment on the Exposure Draft of An improved Conceptual Framework for Financial Reporting ( the ED ).
Deloitte Touche Tohmatsu 2 New Street Square London EC4A 3BZ United Kingdom Tel: +44 (0) 20 7936 3000 Fax: +44 (0) 20 7583 1198 www.deloitte.com Sir David Tweedie, Chairman International Accounting Standards
More informationOffice of the Secretary PCAOB 1666 K Street, N.W. Washington DC USA. 15 February Dear Sir or Madam,
Office of the Secretary PCAOB 1666 K Street, N.W. Washington DC 20006-2803 USA 15 February 2012 Ref.: AUD/PRJ/HBL/LAN/SHA Dear Sir or Madam, Re: FEE Comments on PCAOB Rulemaking Docket Matter No. 030 on
More informationED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)
Huawei Industrial Base Bantian Longgang 518129 Shenzhen People s Republic of China Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom
More informationIf you would like to discuss any aspect of our response, please contact Matt Chapman on
Tel +44 (0) 20 7311 1000 Audit Fax +44 (0) 20 7311 3311 15 Canada Square david.littleford@kpmg.co.uk London E14 5GL United Kingdom Deepa Raval Financial Reporting Council 8 th Floor 125 London Wall London
More informationConceptual Framework for Financial Reporting
9 November 2015 IASB 30 Cannon Street London EC4M 6XH commentletters@ifrs.org Response to exposure draft ED/2015/3: Conceptual Framework for Financial Reporting The Financial Reporting and Analysis Committee
More informationArnold Schilder Chairman International Auditing and Assurance Standards Board 529 Fifth Avenue 6th Floor New York, NY
THE CHAIRPERSON Arnold Schilder Chairman International Auditing and Assurance Standards Board 529 Fifth Avenue 6th Floor New York, NY 100017 EBA/2016/D/695 11 May 2016 Overview of the Invitation to Comment:
More informationThe CNC welcomes the opportunity to comment on the Exposure Draft of an improved conceptual framework for financial reporting.
Conseil National de la Comptabilité 3, Boulevard Diderot 75572 PARIS CEDEX 12 Téléphone 01 53 44 52 01 Télécopie 01 53 18 99 43/01 53 44 52 33 Internet http://www.cnc.bercy.gouv.fr Mel jean-francois.lepetit@cnc.finances.gouv.fr
More informationConsultation questions
Consultation questions The IIRC welcomes comments on all aspects of the Draft International Framework (Draft Framework) from all stakeholders, whether to express agreement or to recommend changes.
More informationWe have identified the following main areas of concern:
CONSEIL NATIONAL DE LA COMPTABILITE 3, BOULEVARD DIDEROT 75572 PARIS CEDEX 12 FRIDAY, 16 APRIL 2004 Téléphone 33 1 53 44 52 01 Télécopie 33 1 53 18 99 43/33 1 53 44 52 33 Internet www.finances.gouv.fr/cncompta
More information12 March Our ref: ICAEW rep 31/10. Your ref:
12 March 2010 Our ref: ICAEW rep 31/10 Your ref: Mr Jeroen Hooijer Head of the Financial Reporting Unit DG Internal Market and Services, MARKT F3 European Commission SPA 2/JII 01/112 B -1040 Brussels Belgium
More informationReference: Consultation Paper: Enhancing the Value of the Auditor Reporting: Exploring Options For Change
October 14, 2011 Technical Director International Auditing and Assurance Standards Board 545 Fifth Avenue, 14 th Floor New York, New York 10017 USA Reference: Consultation Paper: Enhancing the Value of
More informationComment letter on the Trustees Review of Structure and Effectiveness: Issues for the Review
Tel +44 (0)20 7694 8871 15 Canada Square mark.vaessen@kpmgifrg.com London E14 5GL United Kingdom Mr Michel Prada IFRS Foundation 30 Cannon Street London EC4M 6XH Our ref Contact MV/28 Mark Vaessen Dear
More informationMr. Russell G. Golden Technical Director of the Financial Accounting Standards Board 401 Merritt 7 P.O. Box 5116 Norwalk, CT
Deloitte & Touche LLP Ten Westport Road PO Box 820 Wilton, CT 06897-0820 September 30, 2008 Tel: +1 203 761 3000 Fax: +1 203 834 2200 www.deloitte.com Mr. Russell G. Golden Technical Director of the Financial
More informationRe: Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging (DP/2014/1)
277 Wellington Street West, Toronto, ON Canada M5V 3H2 Tel: (416) 977-3322 Fax: (416) 204-3412 www.frascanada.ca 277 rue Wellington Ouest, Toronto (ON) Canada M5V 3H2 Tél: (416) 977-3322 Téléc : (416)
More informationresponses to exposure draft and consultation papers
IPSASB Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities Exposure Draft - Role, Authority and Scope; - Objectives and Users; - Qualitative Characteristics; and - Reporting
More informationUnderstanding a financial statement audit
www.pwc.com Understanding a financial statement audit May 2017 Understanding a financial statement audit 1 Preface Role of audit The need for companies financial statements 1 to be audited by an independent
More informationWe have pleasure in responding to the FRC s discussion paper entitled Cutting clutter.
Ms Jenny Carter Financial Reporting Council 5th Floor, Aldwych House 71-91 Aldwych London WC2B 4HN 27 September 2011 Dear Ms Carter Request for comments on Cutting clutter We have pleasure in responding
More information3 August Dear Mr. James. Proposed International Standard on Auditing 540 (Revised) Auditing Accounting Estimates and Related Disclosures
Brett James IAASB Deputy Director International Auditing and Assurance Standards Board 529 5th Avenue New York New York 10017 United States of America 3 August 2017 Dear Mr. James Proposed International
More informationG100 VIEWS INTEGRATED REPORTING. July 2014
G100 VIEWS ON INTEGRATED REPORTING July 2014 1. The G100 s views in integrated reporting have been revisited with the publication of the International Integrated Reporting Council s (IIRC) International
More informationSAS Quadra 05. Bloco J. CFC Brasília, Distrito Federal Brazil
commentletters@ifrs.org IFRS Foundation 30 Cannon Street London EC4M 6XH United Kingdom Ref: ED 2015/3 Conceptual Framework for Financial Reporting Dear Board Members, The Comitê de Pronunciamentos Contábeis
More informationRe: Comment on IASB's Exposure Draft "Effective Date of IFRS 15 (Proposed amendments to IFRS 15)"
3 July 2015 Mr. Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Re: Comment on IASB's Exposure Draft "Effective Date of IFRS 15 (Proposed
More informationExposure Draft ED 6, Exploration for and Evaluation of Mineral Resources
Hill House 1 Little New Street London EC4A 3TR United Kingdom Tel: National +44 20 7936 3000 Direct Telephone: +44 20 7007 0907 Direct Fax: +44 20 7007 0158 www.deloitte.com www.iasplus.com 15 April 2004
More informationConsultative Report on the Review of the IFRS Foundation s Governance
Ernst & Young Global Limited Becket House 1 Lambeth Palace Road London SE1 7EU Tel: +44 [0]20 7980 0000 Fax: +44 [0]20 7980 0275 www.ey.com Mr. Masamichi Kono Chair of the Monitoring Board Working Group
More informationRe: IASB Request for views on Effective Dates and Transition Methods
Organismo Italiano di Contabilità OIC (The Italian Standard Setter) Italy, 00187 Roma, Via Poli 29 Tel. + 39 06 6976681 fax +39 06 69766830 e-mail: presidenza@fondazioneoic.it International Accounting
More informationRe: Request for Information Post-implementation Review: IFRS 3 Business Combinations
Madrid, 30 May, 2014 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Sir/Madam, Re: Request for Information Post-implementation Review: IFRS 3 Business Combinations
More informationQuestion 1 Question 2
International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Our ref : RJ-IASB 471 C Direct dial : (+31) 20 301 0391 Date : Amsterdam, 31 October 2016 Re : Comment on Exposure
More informationRef: IASB and IFRS Interpretations Committee Due Process Handbook
The Chair Date: 23 October 2012 ESMA/2012/674 Mr Pedro Solbes EFRAG Square de Meeus 35 1000 Brussels Belgium Ref: IASB and IFRS Interpretations Committee Due Process Handbook Dear Mr Solbes, The European
More informationINVITATION TO COMMENT ON IASB EXPOSURE DRAFT OF REVENUE FROM CONTRACTS WITH CUSTOMERS Comments to be received by 20 February 2012
16 November 2011 To: Members of the Hong Kong Institute of CPAs All other interested parties INVITATION TO COMMENT ON IASB EXPOSURE DRAFT OF REVENUE FROM CONTRACTS WITH CUSTOMERS Comments to be received
More informationCA HOUSE 21 HAYMARKET YARDS EDINBURGH EH12 5BH PHONE: FAX: WEB:
CS/PSC-SUB/mb Ms Stephenie Fox Technical Director International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington Street, 4 th Floor TORONTO Ontario M5V 3H2
More informationComments from ACCA September 2011
ENHANCING THE VALUE OF AUDIT REPORTING: EXPLORING OPTIONS FOR CHANGE A consultation paper issued for comment by the International Auditing and Assurance Standards Board Comments from ACCA September 2011
More informationSuruhanjaya Sekuriti Securities Commission Malaysia
Suruhanjaya Sekuriti Securities Commission Malaysia Reference No: AOEVIAASB/RnR/LFN/2013 22 November 2013 Mr James Gunn Technical Director International Auditing and Assurance Standards Board 545 Fifth
More informationFeedback Statement and Impact Assessment ISA (UK) 540 (Revised December 2018) Auditing Accounting Estimates and Related Disclosures
Feedback Statement and Impact Assessment Professional discipline Financial Reporting Council December 2018 Feedback Statement and Impact Assessment ISA (UK) 540 (Revised December 2018) Auditing Accounting
More informationCommittee e.v. Accounting Standards
Der Standardisierungsrat DRSC e. V. Zimmerstr. 30 10969 Berlin Hans Hoogervorst Chairman of the IASB 30 Cannon Street London EC4M 6XH United Kingdom Telefon +49 (0)30 206412-12 Telefax +49 (0)30 206412-15
More informationRe: A Review of the Conceptual Framework for Financial Reporting (DP/2013/1)
277 Wellington Street West, Toronto, ON Canada M5V 3H2 Tel: (416) 977-3322 Fax: (416) 204-3412 www.frascanada.ca 277 rue Wellington Ouest, Toronto (ON) Canada M5V 3H2 Tél: (416) 977-3322 Téléc : (416)
More informationIASB. Request for views. International Accounting Standards Board
IASB International Accounting Standards Board Request for views on Proposed FASB Amendments on Fair Value Measurement Proposed FASB Amendments to Impairment Requirements for Certain Investments in Debt
More informationPaul Druckman Chief Executive Officer International Integrated Reporting Council 15 July 2013.
Paul Druckman Chief Executive Officer International Integrated Reporting Council www.theiirc.org/consultationdraft2013 Deloitte Touche Tohmatsu Limited 2 New Street Square London EC4A 3BZ United Kingdom
More informationQuestion 1: Please indicate whether you submitted comments to IASB and/or EFRAG during their consultations.
1 EUROPEAN COMMISSION Internal Market and Services DG FREE MOVEMENT OF CAPITAL, COMPANY LAW AND CORPORATE GOVERNANCE Accounting Brussels, 30 May 2007 F3/RB D(2007) Endorsement of IFRS 8 Operating Segments
More informationSeptember 30, PCAOB Office of the Secretary 1666 K Street, N.W. Washington, D.C Reference: PCAOB Rulemaking Docket Matter No.
September 30, 2011 PCAOB Office of the Secretary 1666 K Street, N.W. Washington, D.C. 2006-2803 Reference: PCAOB Rulemaking Docket Matter No. 34 CFA Institute 1, in consultation with its Corporate Disclosure
More informationExposure Draft - ISA 540 (Revised and Redrafted), Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
Tel +44 (0) 20 7694 8089 1-2 Dorset Rise Fax +44 (0) 20 7694 8429 London EC4Y 8EN sylvia.smith@kpmgifrg.com United Kingdom Executive Director, Professional Standards International Auditing and Assurance
More information!!!!!!!!!!!!!! 29 September Contribution to IASB consultation on Exposure Draft Conceptual Framework for Financial Reporting
Avenue Milcamps 105 BE- 1030 Brussels VAT: BE 0879.795.938 TeL. 32 2 743 10 33 www.coopseurope.coop 29 September 2015 Contribution to IASB consultation on Exposure Draft Conceptual Framework for Financial
More information8 April Messieurs. Takashi NAGAOKA Director for International Accounting Financial Services Agency of Japan
8 April 2011 Messieurs Takashi NAGAOKA Director for International Accounting Financial Services Agency of Japan E-mail: t-nagaoka@fsa.go.jp Tower 42 25 Old Broad Street London EC2N 1HQ United Kingdom t
More informationCorrespondant Your references Our references Date Ignace Bogaert COR Tel. +32(0)
CBN CNC COMMISSIE VOOR BOEKHOUDKUNDIGE NORMEN COMMISSION DES NORMES COMPTABLES International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Correspondant Your references Our
More informationSir David Tweedie International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom 20 March 2009
Chairman VIA EMAIL: commentletters@iasb.org Sir David Tweedie International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom 20 March 2009 Exposure draft ED 10 Consolidated Financial
More informationElectronic submission via:
2 July 2013 Professor Mervyn King Chairman International Integrated Reporting Council Electronic submission via: www.theiirc.org/consultationdraft2013 Dear Professor King Consultation Draft of the International
More informationGetting a Better Framework Reliability of financial information Bulletin
of financial information Bulletin april 2013 2013 European Financial Reporting Advisory Group (EFRAG), the French Autorité des Normes Comptables (ANC), the Accounting Standards Committee of Germany (ASCG),
More informationRequest for Information Post-implementation Review: IFRS 8 Operating Segments
Ernst & Young Global Limited Becket House 1 Lambeth Palace Road London SE1 7EU Tel: +44 [0]20 7980 0000 Fax: +44 [0]20 7980 0275 www.ey.com International Accounting Standards Board 30 Cannon Street London
More informationSent electronically through the at IVSC Exposure Draft of Proposed New International Valuation Standards
Our Ref.: C/FRSC Sent electronically through the email at Commentletters@ivsc.org 7 September 2010 International Valuation Standards Board 41 Moorgate London EC2R 6PP United Kingdom Dear Sirs, IVSC Exposure
More informationConsultation: Proposed Revisions to the UK Corporate Governance Code (the Code )
Catherine Horton The Financial Reporting Council 8 th Floor 125 London Wall London EC2Y 5AS 28 th February 2018 Invesco Perpetual Perpetual Park, Perpetual Park Drive Henley-on-Thames, Oxfordshire RG9
More informationAOSSG comments on IASB Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests
31 October 2016 Mr. Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH UNITED KINGDOM AOSSG comments on IASB Exposure Draft ED/2016/1 Definition of a Business
More informationSS/288 Sylvia Smith. 30 October Dear Sirs
. Tel +44 (0)20 7694 8871 15 Canada Square sylvia.smith@kpmgifrg.com London E14 5GL United Kingdom Technical Director International Auditing and Assurance Standards Board International Federation of Accountants
More informationAssess record for 'Disclosure of Non-Financial Information by Companies'
Page 1 of 5 Assess record for 'Disclosure of Non-Financial Information by Companies' Meta Informations Creation date 28-01-2011 Last update date User name null Case Number 534239240001202811 Invitation
More informationED Reporting on Auditing Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs)
21 November 2013 The Chairman International Auditing and Assurance Standards Board 529 5th Avenue, 6th Floor New York, New York 10017 Submission via IAASB website Dear Mr Schilder ED Reporting on Auditing
More informationInternational Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom. 8 January Dear Mr Hoogervorst,
International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom 8 January 2018 Dear Mr Hoogervorst, Re: Exposure Draft ED/2017/5 Accounting Policies and Accounting Estimates On
More informationSeveral matters are pertinent to a discussion of audit quality with respect to external audits of banks.
June 21, 2013 Secretariat of the Basel Committee on Banking Supervision Bank for International Settlements CH-4002 Basel Switzerland By email: baselcommittee@bis.org CONSULTATIVE DOCUMENT: EXTERNAL AUDITS
More informationConsultation questions
Consultation questions The IIRC welcomes comments on all aspects of the Draft International Framework (Draft Framework) from all stakeholders, whether to express agreement or to recommend changes.
More informationRe: CESR's Advice on Level 2 Implementing Measures for the Prospectus Directive (July 2003)
30 October 2003 RH/VS Fabrice Demarigny Secretary General The Committee of European Securities Regulators (CESR) 11-13, Avenue de Friedland 75008 Paris France Dear M. Demarigny Re: CESR's Advice on Level
More informationOffice of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC September 2011
Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006-2803 30 September 2011 RE: PCAOB Rulemaking Docket Matter No. 34, Concept Release on Possible
More information10 June 2011 Dear Stephenie, COMMENTS ON PHASE I, II AND III OF THE IPSASB S CONCEPTUAL FRAMEWORK PROJECT
The Technical Director P O Box 74129 Lynnwood Ridge 0040 Tel. 011 697 0660 Fax. 011 697 0666 International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington
More informationDisclosure. and. Transparency
Disclosure and Transparency Chapter 4 DISCLOSURE AND TRANSPARENCY High quality disclosure for informed decision making 4.1 OVERVIEW Disclosure of reliable, timely information that is readily accessible
More informationCONTACT(S) Aida Vatrenjak +44 (0) Ashley Carboni +44 (0)
IASB Agenda ref 7A STAFF PAPER IASB Meeting Project Paper topic Post-implementation Review of IFRS 13 Fair Value Measurement Responding to the feedback CONTACT(S) Aida Vatrenjak avatrenjak@ifrs.org +44
More informationIntegrity House 2 Bath Road, Belgravia Harare, Zimbabwe +263(4)
Integrity House 2 Bath Road, Belgravia Harare, Zimbabwe +263(4)252670 www.icaz.org.zw 29 March 2017 The Technical Director IAASB Technical Director Dear Sir/Madam ICAZ Submission Exploring the Demand for
More informationConceptual Framework Excerpts
Conceptual Framework Excerpts IASB Update April 05 Conceptual Framework (joint meeting) At this meeting, the IASB and FASB began their deliberations to develop a common conceptual framework. The two boards
More informationresponse to consultation paper
IAASB Consultation Paper, A Framework for Audit Quality response to consultation paper 15 May 2013 CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people
More informationDraft amendments to Guidance on the Strategic Report: Non-financial reporting
Draft amendments to Guidance on the Strategic Report: Non-financial reporting Exposure Draft issued for comment by the Financial Reporting Council in August 2017 Comments from ACCA October 2017 ACCA is
More informationINVITATION TO COMMENT: IASB AND IFRS INTERPRETATIONS COMMITTEE DUE PROCESS HANDBOOK
September 5, 2012 IFRS Foundation 30 Cannon Street London EC4M 6XH UNITED KINGDOM By email: commentletters@ifrs.org INVITATION TO COMMENT: IASB AND IFRS INTERPRETATIONS COMMITTEE DUE PROCESS HANDBOOK Dear
More informationJoint Submission to the IIRC re Consultation Draft of the International <IR> Framework
15 July, 2013 To: International Integrated Reporting Committee From: Algemene Pensioen Grope ( APG ), AustralianSuper, California Employees Retirement System ( CalPERS ), Florida State Board of Administration,
More informationFASB and IASB Reaffirm Commitment to Memorandum of Understanding
FASB and IASB Reaffirm Commitment to Memorandum of Understanding A Joint Statement of the FASB and IASB November 5, 2009 At our joint meeting in October 2009, we, the International Accounting Standards
More informationSeptember 26, International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom. Dear Sirs/Madams,
September 26, 2008 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Comments on the Exposure Draft An improved Conceptual Framework for Financial Reporting: Chapter
More informationWe welcome this review of ASAF s objectives and terms of reference, after two years of experience.
Michel Prada and Hans Hoogervorst IFRS Foundation/IASB 30 Cannon Street EC4M 6XH London United Kingdom Brussels, 16 January 2015 Dear Michel, dear Hans, Review of the Accounting Standards Advisory Forum
More informationIAASB Exposure Draft: Reporting on Audited Financial Statements
For the attention of Prof Arnold Schilder Chairman International Auditing and Assurance Standards Board (IAASB) 529 Fifth Avenue, 6th Floor New York, New York, 10017 USA 21 November 2013 Dear Prof Schilder
More informationRe: IASB Request for Views on Effective Dates and Transistion Methods FASB Discussion Paper, Effective Dates and Transition Methods (Ref: )
David Schraa Director, Regulatory Affairs January 31, 2011 Sir David Tweedie, Chairman International Accounting Standards Board 30 Cannon Street EC4M 6XM London, United Kingdom Ms. Leslie Seidman, Chairman
More informationRequest for Views: Trustees Review of Structure and Effectiveness: Issues for the Review
24 November 2015 Mr Michel Prada Chairman of the IFRS Foundation Trustees IFRS Foundation 30 Cannon Street London EC4M 6XH United Kingdom CPA Australia Ltd ABN 64 008 392 452 Level 20, 28 Freshwater Place
More informationStakeholders. Shareholders. Societal licence Shareholders Corporate governance. Viability. Corporate governance reform
The Deloitte Academy December 2017 Governance in brief Stakeholders Societal licence Shareholders Responsible business Transparency Corporate governance Viability Company purpose Audit committee Culture
More information24 February To the Trustees of the IFRS Foundation. Dear Madam, dear Sir,
24 February 2011 To the Trustees of the IFRS Foundation strategyreview-comm@ifrs.org Tower 42 25 Old Broad Street London EC2N 1HQ United Kingdom t + 44 (0) 20 7382 1770 f + 44 (0) 20 7382 1771 www.eba.europa.eu
More informationProfessor Mervyn King Chairman International Integrated Reporting Council Submitted via
Professor Mervyn King Chairman International Integrated Reporting Council Submitted via www.theiirc.org/consultationdraft2013 15 July 2013 Dear Professor King, Consultation draft of the International
More informationRE: Strengthening the Governance and Oversight of The International Audit-Related Standard-Setting Boards in The Public Interest
February 13, 2018 Mr. Gerben Everts The Monitoring Group c/o International Organization of Securities Commissions Calle Oquendo 12 28006 Madrid SPAIN RE: Strengthening the Governance and Oversight of The
More informationAuditing Standard 16
Certified Sarbanes-Oxley Expert Official Prep Course Part K Sarbanes Oxley Compliance Professionals Association (SOXCPA) The largest association of Sarbanes Oxley Professionals in the world Auditing Standard
More informationProposed International Standard on Auditing 315 (Revised)
Exposure Draft July 2018 Comments due: November 2, 2018 International Standard on Auditing Proposed International Standard on Auditing 315 (Revised) Identifying and Assessing the Risks of Material Misstatement
More information3410N Assurance engagements relating to sustainability reports
3410N Assurance engagements relating to sustainability reports Royal NIVRA 3410N ASSURANCE ENGAGEMENTS RELATING TO SUSTAINABILITY REPORTS Introduction Scope of this Standard ( T1 and T2) 1. This Standard
More informationIASB. By 18 th December IASB Exposure Draft Conceptual Framework for Financial Reporting ED/2015/3
IASB By e-mail: Commentletters@IFRS.org; 18 th December 2015 FSR danske revisorer Kronprinsessegade 8 DK - 1306 København K IASB Exposure Draft Conceptual Framework for Financial Reporting ED/2015/3 The
More informationSupporting Credibility and Trust in Emerging Forms of External Reporting
Agenda Item 5-A DRAFT Supporting Credibility and Trust in Emerging Forms of External Reporting IAASB Integrated Reporting Working Group Draft Discussion Paper This publication has been developed by the
More information15 July Professor Mervyn King Chairman International Integrated Reporting Council. Submitted via
15 July 2013 Professor Mervyn King Chairman International Integrated Reporting Council Submitted via www.theiirc.org/consultationdraft2013 Dear Professor King, Consultation draft of the International
More informationWe suggest the Consultative Document consider a two prong approach which:
Ernst & Young Global Limited Becket House 1 Lambeth Palace Road London, SE1 7EU Tel: +44 (0)207 980 0004 Fax: +44 (0)207 980 0275 www.ey.com 21 June 2013 Secretariat of the Basel Committee on Banking Supervision
More informationIASB Speech. Mind the Gap (Between non-gaap and GAAP)
IASB Speech Mind the Gap (Between non-gaap and GAAP) Date: 31 March 2015 Speaker: Hans Hoogervorst Venue: Korean Accounting Review International Symposium, Seoul, Korea Introduction Ladies and gentlemen,
More information