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Bulletin 2009/8 –11 December 2009

The Financial Reporting Council (FRC) held a meeting in Melbourne on 1 December 2009. Issues considered by the meeting included a report by the FRC Chairman on recent international stakeholder meetings, an update by Mr Kevin Simpkins on recent developments in New Zealand, and a report by Mr Kevin Stevenson on the first meeting of the Asian-Oceania Standard Setters Group. Other issues considered by Council included a status report on proposals by the Australian Government and the AASB for reducing the reporting regulatory burden on Australian entities (for further details, see FRC media release 2009/01).

Bulletin 2009/7 – 6 November 2009

The Financial Reporting Council (FRC) today announced the reappointment of members to the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB).

Bulletin 2009/6 – October 2009

The Financial Reporting Council (FRC) hosted a high level delegation from Japan on a fact finding mission to investigate the adoption of IFRS in Australia, and the lessons to be learnt for the possible adoption of IFRS in Japan from 15-18 September 2009. The principal features of the numerous meetings were: reports from and discussions with stakeholder bodies in Sydney, Canberra and Melbourne; the consensus that the process had had a 'soft landing' in Australia; and promotion of IFRS in the Asia-Pacific region and of a regional perspective.

Bulletin 2009/5 – 21 September 2009

The Financial Reporting Council (FRC) held a meeting in Melbourne on 21 Septemer 2009. Matters dealt with at the meeting included discussion of promotion of International Financial Reporting Standards (IFRS) in the Asia-Pacific region; differential financial reporting; public sector accounting; and reports on issues of concern to stakeholder bodies.

Bulletin 2009/4 – 10 June 2009

The Financial Reporting Council (FRC) held a meeting in Canberra on 10 June 2009. The principal issues considered by the meeting were: a report to the Minister on recent activities of the FRC; possible Australian responses to the forthcoming International Financial Reporting Standard for Small and Medium-sized Entities; a report on XBRL developments from Mr Paul Madden of the Treasury; and a presentation on public sector accounting issues by Mr Tim Youngberry of the Department of Finance and Deregulation.

Bulletin 2009/3 – May 2009

The Financial Reporting Council (FRC) held a meeting in Sydney on 5 May 2009.  Matters dealt with at the meeting included reports on the Chairman’s recent overseas meetings, reports on issues of concern to stakeholder bodies, endorsement of Australia’s adoption of the clarity auditing standards in accordance with the 1 January 2010 timeline previously proposed by the AUASB and an update on recent developments concerning the provision of guidance on the use of the going concern assumption.

Bulletin 2009/2 – March 2009

The Financial Reporting Council (FRC) held a meeting in Melbourne on 17 February 2009. Matters dealt with at the meeting included reports on recent international developments (including the Tokyo round table), reports from the Chairs of the AASB and AUASB on the activities of the Boards and consideration of a Treasury paper on auditing issues. At the end of the Council’s formal business, the Minister for Superannuation and Corporate Law joined Council members for a discussion about financial reporting-related issues.

Bulletin 2009/1 – 5 January 2009

The Financial Reporting Council (FRC) today announced the new appointments and reappointments of members to the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB).