AIA General News

AIA Accountancy E-News 22.07.08

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IFAC’s International Ethics Standards Board Proposals To Clarify Code Of Ethics For Accountants
To further promote and facilitate accountants’ adherence to high ethical and independence standards, the International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board within IFAC, has proposed changes to the IFAC Code of Ethics for Professional Accountants.

Consultation Launched On Protecting Investors Rights
HM Treasury is launching a consultation on extending the statutory regime on liability for fraudulent misstatement by issuers of securities.

Legislative Reform Order To Modernise Lloyd’s Of London Laid Before Parliament
Economic Secretary to the Treasury, Kitty Ussher MP, has laid before Parliament a draft Legislative Reform Order (LRO) taking forward proposals to modernise the operation and governance of Lloyd’s of London.

Sir Christopher Hogg To Serve Further Year As FRC Chairman
Gareth Thomas, Parliamentary Under Secretary of State for Trade and Consumer Affairs, has announced that he is extending the term of Sir Christopher Hogg as Chair of the Financial Reporting Council by one year.

FRC Launches Complexity Project
The Financial Reporting Council has launched a project to review the complexity and relevance of current company reporting requirements.

IFRIC Update
The July 2008 IFRIC Update is now available.

IAASB Issues Auditing Standards On Related Parties
Following the consideration and approval of due process by the Public Interest Oversight Board (PIOB), the International Auditing and Assurance Standards Board (IAASB), an independent standard-setting board under the auspices of the IFAC, has released International Standard on Auditing (ISAs) 550 (Revised and Redrafted), Related Parties and three clarity redrafted ISAs.

IAASB Releases 2009-2011 Strategy And Work Program
The International Auditing and Assurance Standards Board (IAASB), an independent standard-setting board under the auspices of the IFAC, released its Strategy and Work Program, 2009-2011.

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Further Information
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