Thursday, December 24, 2009

IASB work plan - projected timetable and access to IFRS

The International Accounting Standards Board (IASB) projected timetable shows the current best estimate of document publication dates. The effective date of amendments and new standards is usually 6-18 months after publication date, although in setting an effective date the IASB considers all relevant factors. In appropriate circumstances, early adoption of new standards will be allowed. The work plan anticipates the completion of several projects in 2010 and 2011. The IASB will consider staggering effective dates of standards to help entities that apply IFRS undertake an orderly transition to any new requirements. The IASC Foundation provides free-of-charge access to the current year’s consolidated unaccompanied International Financial Reporting Standards (IFRS) in English as issued by the International Accounting Standards Board (IASB) and published in the Bound Volume.