• 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.
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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