International


INTERNATIONAL

The International Accounting Standards Board (IASB) seeks additional comments on its July 2000 discussion paper, Accounting for Share-Based Payment, which advocated fair-value reporting of stock and options paid to employees. Because it would reduce their reported profits, companies around the world strongly oppose the IASB’s proposal. Comments are due by December 15. (www.iasb.org.uk/cmt/0001.asp?s=100343464&sc={38CE5284-AEF3-11D5-BE6B-003048110251}&n=3338)

The IASB Standing Interpretations Committee issues two draft interpretations for public comment: SIC-D33, Consolidation and Equity Method—Potential Voting Rights ; and SIC-D34, Financial Instruments—Instruments or Rights Redeemable by the Holder . Comments are due to the IASB by November 5. (www.iasb.org.uk/cmt/0001.asp?s=100343464&sc={38CE5284-AEF3-11D5-BE6B-003048110251}&n=2011)

Internal auditing of banks is the focus of a new best-practice paper from the Basel Committee on Banking Supervision. The committee stresses that boards of directors and senior management have ultimate responsibility for banks’ internal controls—even when they choose to outsource the internal auditing function. ( www.bis.org/publ/bcbs84.htm )

A new study from the International Federation of Accountants— Governance in the Public Sector: A Governing Body Perspective —describes governance principles and their application to the public sector. It also includes an overview of public-sector accountability arrangements. ( www.ifac.org/News/LastestReleases.tmpl?NID=9977167461116&RanID=897825 )

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.