NEW YORK-The International Accounting Standards Board (IASB) released on July 20, 2007, the the International Financial Reporting Committee (IFRIC) newsletter for July 2007. The update is available on TAGI website and can be accessed by clicking on the following link.
IFRIC’s principal role is to consider, on a timely basis within the context of International Financial Reporting Standards and the International Accounting Standards Board (IASB) Framework, accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance, with a view to reaching consensus on the appropriate accounting treatment.
For more information please visit the following website: www.iasb.org