Gb08_engl Umschlag:GB 2005 - DVFA

activities of the committees
CRUF Germany 2008
For more than a year, the members of CRUF Germany have met every six to eight weeks
after the inaugural events of Fortis Investments and Allianz Global Investors at the DVFA
Center, to discuss current amendments to accounting rules and analyse changes under
IFRS. In particular, the tireless efforts of PwC have contributed to prompt examination
and evaluation of all topics of interest to the IASB and the investment community, thus
giving analysts and portfolio managers the ability to incorporate accounting changes
into their workflows at an early stage.
One highlight of 2008 was the presentation by Dr. Herbert Meyer, President of the FREP -
Financial Reporting Enforcement Panel.
Committee Financial Accounting
The Committee Financial Accounting was founded in November 2007 as a steering group
for the DVFA Expert Groups and Committees in the center-of-competence Equities. Representatives
of the FAC also work in a variety of other industry groups, such as the IASB,
DRSC, CRUF to name but a few.
Expert Group Banks
Equities_
This Expert Group met once last year. After the international rating agencies came
under criticism in the context of the financial market crisis, an analyst from S&P was
brought in to instruct our Expert Group on the basics of rating methodology for banks
in a lecture with subsequent discussion. Afterwards, Prof. Löw from KPMG gave a talk
on the requirements for segment reporting under IFRS 8. To close the meeting, Mr.
Weigel of PwC made a presentation on the most important elements of Germany’s
Accounting Law Modernization Act (Bilanzrechtsmodernisierungsgesetz - BilMoG). The
Banks Expert Group plans to meet at least once a year in the future as well.
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