Chile

On 26 May, the Chilean Securities and Insurance Supervisor - Superintendencia de Valores y Seguros (SVS) - published the official SVS CL-CI-2010 Taxonomy. The new taxonomy is based on the IFRS Taxonomy 2010 and is effective immediately for use by Chilean companies to submit their financial statements to the SVS in XBRL.

AICPA publishes white paper on IFRS conversion IT considerations

On 4 May, the American Institute of Certified Public Accountants (AICPA) published a white paper entitled Financial System Considerations in IFRS Conversion Projects. Prepared by the Information Technology Section of the AICPA, the paper explores the information technology implications of IFRS conversion, including the impact on financial and business reporting, implementation considerations (including XBRL) and lessons learned from the European experience.