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Bulletin 2007/5 – 17 December 2007

The meeting considered the 2008 round of appointments to the AASB and AUASB.  In addition, the meeting appointed a new Chair of the Audit Independence Committee, noted that Professor Stephen Zeff of Rice University has accepted an invitation to deliver the 2008 Ken Spencer Memorial Lecture and noted reports by Treasury on progress with the implementation of proposed governance reforms and the objectives of standard business reporting regime.

Bulletin 2007/4 – 13 September 2007

The 42nd meeting of the Financial Reporting Council (FRC) was held in Melbourne on 5 September 2007. The main issues considered at the meeting were: the annual report of the FRC and the associated reports and financial statements of the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB); the preparation of the FRC’s 2006‑07 auditor independence report; 2008 appointments to the AASB and AUASB; and reports from standard setters and committees.

Bulletin 2007/3 – 1 June 2007

The 41st meeting of the Financial Reporting Council (FRC) was held in Sydney on 1 June 2007. The main issues considered at the meeting were: financial matters; update on work of Committees; peer review of Board Members; and reports from Chair of the Standard Boards.

Bulletin 2007/2 – 13 March 2007

Sir David Tweedie, Chairman of the International Accounting Standards Board, provided the Council with an overview of the work of the IASB and the future direction of that work. In addition, the Council considered a number of financial issues, the scope of work under its audit independence function, a proposal to appoint a communications manager and received an update on the Uhrig review and its implications for the AASB, AUASB and FRC.

Bulletin 2007/1 – 8 March 2007

The Council considered the public comments on the Simpkins' report on sector neutral accounting standards, received an update on differential accounting standards for SMEs and clarified its strategic direction to the AUASB addressing the need to promote the recognition of IFRS adoption in Australia.