Two examples from the webpage are:
September 22, 2009
The Trustees of the IASC Foundation, the oversight body of the International Accounting Standards
Board (IASB), welcomed today’s statement by the Monitoring Board, a group of public capital
market authorities to whom the IASC Foundation established a public accountability link. In its
statement of principles, the Monitoring Board emphasised the relevance of providing high-quality
financial information to ensure the confidence of capital providers in making investment decisions.
The Monitoring Board also highlighted the importance of ‘independence and transparency in the
standard setter’s due process.’
October 8, 2009
The International Accounting Standards Board (IASB) issued today an amendment to IAS 32
Financial Instruments: Presentation
. The amendment addresses the accounting for rights issues
(rights, options or warrants) that are denominated in a currency other than the functional currency of
the issuer. Previously such rights issues were accounted for as derivative liabilities. However, the
amendment issued today requires that, provided certain conditions are met, such rights issues are
classified as equity regardless of the currency in which the exercise price is denominated.
IFAC is the global organization for the accountancy profession. It works with its 157 members and
associates in 123 countries and jurisdictions to protect the public interest by encouraging high quality
practices by the world's accountants. IFAC members and associates, which are primarily national
professional accountancy bodies, represent 2.5 million accountants employed in public practice, industry
and commerce, government, and academia. Through its independent standard-setting boards, IFAC
develops international standards on ethics, auditing and assurance, education, and public sector
accounting standards. It also issues guidance to support professional accountants in business, small and
medium practices, and developing nations.
One example from the webpage is:
September 23, 2009
IFAC's Bunting Calls for Global Commitment to High-Quality Financial Standards to Solve Crisis
Mr. Bunting reminded the audience that every kind of entity needs the financial information that high-
quality standards provide as we move toward recovery from the recession. Businesses in Latin America
and the Caribbean often need to prove their economic viability as business partners for new opportunities
in the Middle East and China, or for ongoing ones in this hemisphere. Governments need to confirm their
fiscal health for the capital markets or for membership in regional economic organizations.