Financial Crisis Database

HKICPA
  		• HKICPA Chief Executive's email of 14 October 2008 (Reclassification of Financial Assets)
  		• HKICPA Chief Executive's email of 22 October 2008 (Reclassification and not suspension of fair value)
  		• Question and answer on reclassification of financial assets for general guidance
       


    Financial Reporting and Auditing Alert
  		•  Issue 1 – February 2009: Financial statement disclosures relating to financial instruments
       


    A Plus
  		• January 2009: Going concern:Don't take it for granted
  		• December 2008: Briefing notes on fair value accounting
  		• December 2008: Amending fair value rules – Talks with Marvin Cheung and Winnie Cheung
  		• December 2008: Bust and boom – What will the financial crisis bring the accounting profession and how will it change the regulatory environment?
  		• November 2008: Understanding IASB Amendments for IAS 39 and IFRS 7
  		• November 2008: A brief history of the financial meltdown so far...
       


    IASB
  		•  April 2009: FCAG letter to G-20 leaders
  		• April 2009: IASB sets out timetable for IAS 39 replacement and its conclusions on FASB FSPs
  		• October 2008: Report on measuring and disclosing the fair value of financial instruments in markets that are no longer active
  		• October 2008: IASB staff summary on using judgement to measure the fair value of financial instruments when markets are no longer active
       


    IFAC-IAASB Staff Audit Practice Alert
  		•  January 2009: Audit considerations in respect of going concern in the current economic environment
  		• October 2008: Challenges in auditing fair value accounting estimates in the current market environment
       


    IFAC Financial Crisis Database
  		• IFAC provides links to resources that will assist in addressing issues related to the financial crisis
       


    GAA
  		• December 2008: Getting to the heart of the issue - Can financial reporting be made simpler and more useful
       


    Corporate Governance Alert by Deloitte
  		•  Issue 1 – Issues and Questions for 2007/2008 Financial Reporting
  		• Issue 3 – Price Sensitive Information – Troubled, but navigable waters
  		• Issue 4 – Financial Reporting Council of Hong Kong – A New Regulatory Watchdog Patrolling the Street
       


    G20 Matters
  		• IAS Plus Update – G20: Implications for IFRSs (Deloitte)
  		• IFRS Briefing Sheet – G20's roadmap on financial reporting (KPMG)
       


    Other publications:
  		• An unprecedented number of going-concern footnote disclosures and clarification from the auditors will be seen by CFO.com (5 March 2009)
  		• IFRS outlook by Ernst & Young (February 2009)
  		• HKFRS news to discuss impact of the current financial crisis on impairment testing by PricewaterhouseCoopers (January 2009)
  		• Turbulent times 2nd edition – Key accounting considerations in today's volatile markets by Deloitte (December 2008)
  		• FRC alerts directors to the corporate reporting challenges arising from current economic conditions by UK FRC Press notices (27 November 2008)
  		• Communiqué from Members of the National Standard Setters Group to the International Accounting Standards Board and the Trustees of the IASC Foundation by National Standard Setters (14 November 2008)
  		• World credit loss "£1.8 trillion" by BBC News (28 October 2008)
  		• Tweedie: Don't blame fair value for the crisis by CFO.com (17 September 2008)
  		• Report on the financial crisis by René Ricol (September 2008)
       


    AccountancyAge.com
  		• 17 November 2008: G20 asks standard setter to promote financial stability
  		• 11 November 2008: Tweedie nearly quit after fair value change
  		• 21 October 2008: IFAC opposes any suspension of fair value
       
    Comments and suggestions may be sent by e-mail to <commentletters@hkicpa.org.hk>.