THE INTERNATIONAL FINANCIAL REPORTING STANDARDS
International Financial Reporting Standards are of great importance to an auditor. A detailed review of those so far issued belongs to an accounting text and for this reason it is assumed that the students have knowledge of their requirements. However, elsewhere in this text the major auditing points with regard to each current IAS / IFRS are reviewed under the accounting standards checklist. The IAS / IFRS issued to date are as follows:
Examinable Authoritative documents
International Financial Reporting Standards (IASs/IFRS)
No Title Issue date
Preface to Statements of IASs
IAS 1 Presentation of Financial Statements (Revised) Aug 1997
IAS 2 Inventories Dec 1993
IAS 7 Cash Flow Statements (See Note 2) Dec 1992
IAS 8 Net Profits or Loss for the Period, Fundamental Errors
And Changes in Accounting Policies Dec 1993
IAS 10 Events after the Balance Sheet Date (Revised) May 1999
IAS 11 Construction Contracts Dec 1993
IAS 12 (Revised) Income Taxes Oct 1996
IAS 14 (Revised) segment Reporting Aug 1997
IAS 15 Information reflecting The Effects of Changing Prices Dec 1993
IAS 16 Properties, Plant and Equipment (Revised) Sep 1998
IAS 17 Accounting for Leases (Revised) Nov 1997
IAS 18 Revenue Dec 1993
IAS 20 Accounting for Government Grants and Disclosure
Of Government Assistance Jan 1995
IAS 22 Business Combinations (Revised) Sep 1998
IAS 23 Borrowing Costs Dec 1993
IAS 24 Related Party Disclosures Jan 1995
IAS 27 Consolidated Financial Statements and Accounting
For Investments in Subsidiaries Jan 1995
IAS 28 Accounting for Investments in Associates (Revised) Sep 1998
IAS 30
IAS 31 Financial Reporting of Interests in Joint Ventures
(Revised) Sep 1998
IAS 32 Financial Instruments: Recognition and Measurement
(Revised) (See Note 3) June 1995
IAS 33 Earnings per Share Feb 1997
IAS 34 Interim Financial Reporting Feb 1998
IAS 35 Discounting Operations Jun 1998
IAS 36 Impairment of Assets June 1998
IAS 37 Provisions, Contingent Liabilities
and Contingent Assets Sep 1998
IAS 38 Intangible Assets Sep 1998
IAS 39 Financial Instruments: Disclosure and
Presentation (See Note 3) Dec 1998
IAS 40 Investment Property Mar 2000
IAS 41 Agriculture Feb 2001
IFRS 1 Share Based Payments
IFRS 2 First Time Application of IFRSs
IFRS 3 Share Based Payments
IFRS 4 Business Combinations
IFRS 5. Non Current Assets Held for Sale and Discontinued Operations