The International Accounting Standards Board and Corporate Governance

Afifa Nabila Anindita Putri Pramita Diah C2C008005 C2C008011 C2C008109

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Isi Materi :

Menjelaskan layanan yang diberikan IASB pada industry Menjelaskan karya Luca Paciolo Menjelaskan level reliabilitas pelaporan keuangan Manjelaskan kelemahan standar akuntansi yang telah usang Menjelaskan variable utama corporate governance Menjelaskan keterkaitan corporate
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Introduction
IASC terbentuk tahun 1973. Tujuan awal : Mempromosikan harmonisasi standar dan prosedur akuntansi ke seluruh dunia supaya tercipta standar akuntansi global yang sesuai In 1999, the International Accounting Standards Committee issued an accounting standard that required the use of fair values for certain financial products, in particular:

Derivative instruments, and Debt and equity securities held for trading or 4/28/12 available for sale.

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SERVICE TO INDUSTRY BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD

IASB bekerja sama dengan FASB, IOSCO, dan IAIS (International Association of Insutance Supervisors) dan standar akuntansi nasional dan intersasional lainnya.
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 Tantangan dalam
mengimplementasikan IFRS

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LUCA PACIOLO
Salah satu karya Paciolo yang terkenal, berjudul Summa de Arithmetica Geometria Proportioni et Proportionalita Books should be closed every year, particularly in a

partnership, because frequent accounting makes for long friendship.

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Higher level of reliability in financial reporting

Acoountng is only one of the pillars only which a dependable reporting system rests which integrates the other pillars like management ethics and risk control.

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Obsolete standards become counterproductive

IAS 39 is not just an alternative to accruals, it is a standard designed for our epoch, though it still needs to be analysed in its full multi-dimensional impact in :

Judging company performance and assumed risk Satisfying regulatory and supervisory demands, and Stimulating business growth by providing a means to measure risk and 4/28/12 return regarding products and customers

This change makes the financial statements should be capable of :

Provide reliable information about their financial position and performance, and Help a wide range of users in making better-focused economic decisions, without book value ambiguities.

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Core variables in Corporate Governance

According to ECB the top five variables are:

Earning ratio Solvency ratio Leverage Firm size Age of firm

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Accounting standards and corporate governance: a case study in insurance

Pada Mei 2002, IASB membagi dua fase yaitu:

Insurance phase 1, sebagai langkah awal dalam menyusun standar. Insurance phase 2, untuk pengembangan sementara fair value model untuk munculnya aset dan liabilitas pada kontrak asuransi.
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Dr Joachim Klschbach, dalam Geneva Associations monthly bulletin bulan Juni 2005 mengatakan bahwa IASB telah mereview project plan untuk Phase 2 dan memutuskan untuk memperbaharui laporan keuangan asuransi, meliputi tujuan interaksi FASB dan mendukung konvergensi IASB/FASB.

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Fair value accounting system

Tidak ada yang mengatakan bahwa pengenalan full fair value accounting system tidak berisiko Kabar baiknya bahwa fair value accounting model dapat menghasilkan laporan keuangan yang lebih efektif membedakan performance perusahaan yang baik dan buruk.

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