IFRS outlook
Insights on International GAAP® In this issue:
- More work needed on revenue recognition
- IFRS in Brazil: Spotlight on Brazil's IFRS adoption
- IFRS project update
More work needed on revenue recognition
The IASB and FASB jointly issued a revised revenue recognition proposal in November 2011, which would significantly impact revenue recognition for many entities when it becomes effective. In our response to the Boards' proposal, we reiterate our support for the Boards' objective to develop a single converged standard for both IFRS and US GAAP reporters, but recommend that they reconsider aspects of the proposal and provide additional application guidance to promote consistent application. Read more about our views presented in our comment letter to the Boards.
IFRS in Brazil — Spotlight on Brazil's IFRS adoption — An Interview with EY's IFRS Leaders in Brazil
Read our interview with Idesio Coelho, Professional Practice Director, Ernst & Young, South America, and Paul Sutcliffe, Ernst & Young's IFRS Leader, South America, and learn more about their experience, the challenges faced and lessons learnt on Brazil's adoption of IFRS in 2010.
IFRS project update
Find out which projects the IASB and the IFRS Interpretations Committee are currently discussing.
Resources
Look here for an up-to-date list of our recent publications.
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