Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 21/07/2011

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

International Valuation Standards 9th edition (2011/24) 

IVSC, a global body that develops valuation standards, has released updated standards intended to apply to valuations performed for a number of purposes, including financial reporting. While the IVS are not endorsed by the IASB or otherwise authoritative, they include references to valuations performed for financial reporting under IFRSs.
In the Headlines cover
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Key points

  • Significantly revised IVS issued on 19 July 2011
  • Cover valuations for most types of assets
  • Refer to valuations performed for financial reporting under IFRSs
  • Effective from 1 January 2012 with earlier application encouraged.
IFRS Briefing Sheets - International financial reporting updates