In December 2011, the IASB published an exposure draft ED/2011/7 Transition Guidance Proposed Amendments to IFRS 10 that clarifies the transitional guidance in IFRS 10 Consolidated Financial Statements. The proposals are in response to constituent requests for clarification on certain aspects of the transition guidance in IFRS 10.

The debate over mandatory auditor rotation in the United States continues, as the PCAOB reopens its comment period on the matter.

This January 2012 article from The CPA Journal focuses not so much on standards, but on what investors expect from the Standard Audit Report. It is an interesting assessment as it touches on both accounting and auditing issues and the manner in which the current report evolved, and how it might be improved.

This Journal of Accountancy article, published on journalofaccountancy.com, presents the views expressed by PCAOB Chairman James Doty in a speech made to the Federation of European Accountants (FEE) Conference on Audit Policy in Brussels. Doty states that, when national regulators cooperate and share information, investors everywhere benefit ...

The PCAOB is considering rules that would force companies to switch auditors on a regular basis in order to address what has been called a "disturbing lack of scepticism" in auditing work.

The objective of IFRS 2 is to specify the financial reporting by an entity when it undertakes a share-based payment transaction. In particular, it requires an entity to reflect in its profit or loss and financial position the effects of share-based payment transactions, including expenses associated with transactions in which share options are granted to employees.

This course was designed to help you understand and apply the reporting requirements prescribed by IAS 32, Financial Instruments — Presentation, and IFRS 7, Financial Instruments — Disclosures.

The objective of IFRS 7 is focused on financial instrument disclosures, and is based on the notion that entities should provide disclosures in their financial statements that enable users to evaluate the significance of financial instruments for the entity’s financial position and performance. Further, IFRS 7 places emphasis on disclosures about risks associated with holding or issuing financial instruments.

The objective of IAS 32 is twofold: first, to establish principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and financial liabilities, and second, to enhance financial statement users’ understanding of the significance of financial instruments to an entity’s financial position, performance, and…

The objective of IAS 39 is to establish principles for recognizing and measuring financial assets, financial liabilities, and some contracts to buy or sell non-financial items. The principles in IAS 39 complement those of IFRS 7 Financial Instruments: Disclosures, and for presentation of information about them in IAS 32 Financial Instruments: Presentation. IAS 39 applies to all entities and to all types of financial instruments, except where it specifically defers to another Standard and/or a different accounting treatment (¶2).