Ernst & Young Monthly News January 2009
E-News
(PDF, English, 109 KB)
The new Audit Law: a few practical questions
(PDF, English, 942 KB)
Editorial / Developments in international tax legislation (Bernhard Hössli, Philipp Roth) / Amendment to the Savings Tax
Directive (Alberto Lissi, Janine Ziegler) / Germany: current trends (Heiko Kubaile, Christian Buck) / Transfer pricing ideas
for efficient cash reallocation (Salim Damji, Flora Tommy-Martin) / Overview of amendments to cantonal tax laws for selected
cantons (Cristiana Allidi, Viktor Bucher, Federico Centonze, Fabian Duss, Marc Godat, Stefan Grob, Roger Krapf, Annette Menn,
Roman Scherrer, Jochen Wehrli)
(PDF, English, 276 KB)
China Transfer Pricing: Related Party Transaction Annual Reporting Forms
(PDF, English, 387 KB)
The impact of the credit crisis on share-based payment awards / What is a business under IFRS 3 revised? / Financial reporting
developments / Resources
(PDF, English, 106 KB)
The IASB has issued an ED proposing changes to IFRIC 9 and IAS 39 to clarify some aspects of the previous set of amendments that
it issued in October entitled Reclassification of financial assets (Amendments to IAS 39 and IFRS 7). The proposed changes would
impact businesses that have already reclassified hybrid financial instruments, or will do so, in accordance with IAS 39.
(PDF, English, 214 KB)
The IASB recently issued an Exposure Draft (ED) on consolidated financial statements that would replace IAS 27 and SIC-12. The
proposals contained in the ED will require entities holding investments to exercise greater judgment imposed by a new definition
of control of an entity and to introduce additional procedures to make the necessary assessments, respond to changes in circumstances
and to make the additional disclosures – particularly for involvement with 'Structured Entities.
(PDF, English, 161 KB)
Under the current requirements of IAS 24 Related Party Disclosures, state-controlled entities may find it difficult and costly to
provide all required disclosures of transactions with other state-controlled entities.
(PDF, English, 200 KB)
The IASB and the FASB issued a discussion paper entitled Preliminary Views on Revenue Recognition in Contracts with Customers
relating to their ongoing joint revenue recognition project. This project has the potential to significantly change how and when
revenue is recognized for many companies. And in turn it may affect how a company communicates with its key stakeholders.
(PDF, English, 4.03 MB)
This publication combines and updates our two recent supplements to IFRS outlook (Issues 16 and 18) that covered amendments
to IAS 39 and IFRS 7. It expands the guidance, providing a decision tree, frequently asked questions and updated illustrative examples.
(PDF, English, 110 KB)
The IASB recently issued a revised version of IFRS 1. There are no changes to the substance of accounting by first-time adopters but
this version is structured in a more readable format that takes account of the amendments adopted since IFRS 1 was issued in 2003.
(PDF, English, 161 KB)
This supplement summarizes the main requirements of IFRIC 17 Distributions of Non-cash Assets to Owners. The interpretation is
wide applying to any non-reciprocal distribution of non-cash or assets. The supplement also includes a summary of the key impacts
that businesses should consider.
(PDF, English, 245 KB)
China sheds further light on corporate income tax preferences
(PDF, English, 203 KB)
China strengthens tax administration on non-resident companies.
(PDF, English, 156 KB)
Major developments / Editorial / Direct tax: Country updates / Contacts: Direct tax and indirect tax