Beyond the GAAP no.60 - October 2012

The SEC’s report on the work plan for the endorsement of IFRSs, published last July, made a great impression, since it was entirely free of any recommendations for adoption of IFRSs by the United States. After the shock come the reactions, and the cautious attitude of the US is causing some gritting of teeth.

Convergence at any cost is coming under more and more criticism, and the FASB’s recent decision to withdraw from the compromise on the impairment of financial assets will hardly ease anyone’s mind. The European Commission believes that 2013 will be the year of truth as far as US participation in IFRSs is concerned.


  • The IASB updated its work plan
  • Measuring the fair value of unquoted equity instruments within the scope of IFRS 9
  • Reopening IFRS 9 phase 1, Classification and measurement : the case of regulated interest rates
  • European perspective on the move towards global accounting standards
  • ESMA: 12th extract from the database of enforcement

A closer look:

  • IFRS 9 – Impairment: left with a compromise, the IASB must make up its mind
  • On-going joint redeliberations on Revenue Recognition


Beyond the GAAP n°60 october 2012
Beyond the GAAP n°60 october 2012