Is your company affected by FATCA? The U.S. government has enacted the Foreign Account Tax Compliance Act (FATCA) to combat offshore tax evasion by U.S. people. In 2014 Canada and the U.S. have entered into an intergovernmental agreement (IGA) that in effect requires Canadian financial institutions (FIs) to comply with FATCA. If your company is affected by FATCA; what are
Read moreThe IFRS foundation has released: Issue 5 of the IASB Investor Update and Q&A with Dick Sluimers, CEO of APG Group and a Trustee of the IFRS Foundation. Follow to see The Investor Update: http://www.ifrs.org/Updates/Investor-Updates/Pages/Home.aspx Follow to see an interview with DickSluimers(an IFRS Foundation Trustee) on the merits of joining the Investors in Financial Reporting programme and contributing to
Read more
The IASB’s summary of the model for insurance contracts without participation features is now available. http://www.ifrs.org/Current-Projects/IASB-Projects/Insurance-Contracts/Documents/2015/Insurance-Contracts-without-Participation-Features-March-2015.pdf In addition, the following has been updated on the Insurance Contracts project website: Insurance Contracts: Project Overview (Summary of the progress to date) http://www.ifrs.org/Current-Projects/IASB-Projects/Insurance-Contracts/Documents/2015/High%20level%20project%20update.pdf Due Process Overview (Key Due Process steps undertaken to date) http://www.ifrs.org/Current-Projects/IASB-Projects/Insurance-Contracts/Documents/2015/20150312%20-%20Due%20Process%20overview.pdf Due Process Steps (As per the IASB: “[This] shows how the IASB
Read more
Hans Hoogervorst, Chairman of the International Accounting Standards Board (IASB) said in a speech in Edinburgh, Scotland; everybody is best served by accounting that reflects the economic reality, even if it makes for uncomfortable reading. He also said ‘Bad accounting breeds bad policies‘. Follow for the press release and speech. http://www.ifrs.org/Alerts/Conference/Pages/Speech-by-Bad-accounting-breeds-bad-policies-March-2015.aspx What do you think of
Read more
On behalf of the Fraud Prevention Forum; the Competition Bureau has brought you the following: FRAUD: RECOGNIZE IT. REPORT IT. STOP IT. The Competition Bureau goes on to say: Fraud by telephone, Internet and mail is a serious international problem. It steals your money, your identity and even your self-respect. You can protect yourself by learning to recognize the signs.
Read more
The IASB discussed the following elements of the Research Projects in their February meeting: · Disclosure Initiative · Business Combinations All of the agenda papers presented by the staff are available as follows: http://www.ifrs.org/Meetings/Pages/IASB-Meeting-February-2015.aspx The next meeting is to be held on March the 17th to 19th 2015. Follow to see the agenda papers: http://www.ifrs.org/Meetings/Pages/IASB-Meeting-March-2015.aspx Do you have any relevant
Read more
The IFRS issued the IFRS Taxonomy 2015 today, which is is consistent with IFRS as issued by the International Accounting Standards Board (IASB) at 1 January 2015 which included including Standards issued but not yet effective at that date. Follow for the full news story: http://www.ifrs.org/Alerts/XBRL/Pages/The-IFRS-Foundation-publishes-the-IFRS-Taxonomy-2015-.aspx Note: The IFRS Taxonomy Team announced that they will be holding a IFRS Taxonomy
Read more
The IFRS Foundation is pleased to announce New French translations for Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28)and Disclosure Initiative (Amendments to IAS 1). eIFRS Professional/eIFRS Comprehensive subscribers can access theses translations from the following: http://eifrs.ifrs.org/eifrs/PDFArchive?categoryId=469&sidebarCategoryId=1 The French translation of the Exposure Draft Classification of Liabilities (Proposed Amendments to IAS 1), can
Read more
The IFRS Foundation is pleased to announce that the IFRS Taxonomy 2015 publication is expected to be issued on March the 11th. This is provided by the IFRS Foundation’s to address the demand for an electronic standard to transmit IFRS financial information.. Click here for more information as to when the IFRS Taxonomy 2015 will be available http://www.ifrs.org/XBRL/Pages/XBRL.aspx Will you
Read more
Executive Perspectives on Top Risks for 2015 is a webinar recap that Robert Half Management Resources has posted. In it “Regulatory changes and heightened scrutiny may affect the manner of production or delivery of products or services “ was the number one risk. Follow for the rest of the risks and stories at: http://tinyurl.com/pcolpnk Is this your number one risk; if not
Read more