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Standard setters discuss understandability of accounting standards
19 Apr, 2024
At the meeting of the International Forum of Accounting Standard Setters (IFASS) currently being held in Seoul, the standard setters discussed research on the understandability of accounting standards.
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New GPF member appointed
18 Apr, 2024
The Global Preparers Forum (GPF) has appointed a new member, Emmanuelle Guyomard, to serve an initial five-year term.
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AI in standard setting
18 Apr, 2024
At the meeting of the International Forum of Accounting Standard Setters (IFASS) currently being held in Seoul, the standard setters discussed whether and how artificial intelligence (AI) can be used in standard setting.
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IASB completes project on business combinations under common control by publishing project summary
17 Apr, 2024
The International Accounting Standards Board (IASB) has published a project summary regarding its project on business combinations under common controls (BCUCC).
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UKEB introduces research on intangibles at IFASS meeting
17 Apr, 2024
The International Forum of Accounting Standard Setters (IFASS) is currently holding its spring meeting in Seoul. During one presentation today, the UK Endorsement Board (UKEB) introduced two forthcoming research reports on accounting for intangibles.
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EFRAG final comment letter in response to the IASB's exposure draft on financial instruments with characteristics of equity
16 Apr, 2024
The European Financial Reporting Advisory Group (EFRAG) has published its final comment letter in response to the International Accounting Standards Board’s (IASB's) exposure draft 'Financial Instruments with Characteristics of Equity (proposed amendments to IAS 32, IFRS 7 and IAS 1)' ('the exposure draft').
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Two webinars introducing IFRS 18
16 Apr, 2024
EFRAG has announced two webinars introducing IFRS 18 ‘Presentation and Disclosures in Financial Statements' - one with a general focus and one for financial institutions, insurance companies and conglomerates. The IASB will participate in both webinars.
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April 2024 ISSB meeting agenda posted
12 Apr, 2024
The International Sustainability Standards Board (ISSB) has posted the agenda for its meeting, which will be held in Frankfurt on 23 April 2024. The ISSB will be assessing projects to add to the work plan.
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April 2024 IASB meeting agenda posted
12 Apr, 2024
The IASB has posted the agenda for its next meeting, which will be held in its offices in London on 22–25 April 2024. There are 10 topics on the agenda.
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Transition Plan Taskforce publishes new resources
12 Apr, 2024
The Transition Plan Taskforce (TPT) has issued its final set of transition plan resources which aim to help business unlock finance for transition to net zero.
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European Parliament approves delay of certain ESRSs
17 Apr, 2024
The European Parliament has voted to postpone the adoption of sector-specific European Sustainability Reporting Standards (ESRSs) and ESRSs for third-country entities by two years, until 30 June 2026
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IPSASB consults on amendments based on IFRIC Interpretations
17 Apr, 2024
The International Public Sector Accounting Standards Board (IPSASB) has released an exposure draft (ED) proposing amendments to consider IFRIC Interpretations for public comment. So far the IPSASB had not considerered interpretations issued by the IFRS Interpretations Committee for inclusion in the International Public Sector Accounting Standards (IPSAS).
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EFRAG publishes March 2024 issue of EFRAG Update
16 Apr, 2024
The European Financial Reporting Advisory Group (EFRAG) has published an ‘EFRAG Update’ summarising public technical discussions held and decisions made during March 2024.
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Digital reporting and the IFRS digital taxonomies
11 Apr, 2024
The IFRS Foundation has published an article 'Digital financial reporting — Facilitating digital comparability and analysis of financial reports' and has set up a new dedicated website.
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EC announces event on ESRS
08 Apr, 2024
The European Commission (EC) has announced a half-day event titled 'Supporting companies in applying the European Sustainability Reporting Standards (ESRS)' on 16 May 2024 in Brussels. Participants can either attend in person or virtually.
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Updated AOSSG survey on the financial reporting practices of Islamic financial institutions
08 Apr, 2024
The Asian-Oceanian Standard-Setters Group (AOSSG) has released the results of a follow-up survey into the financial reporting standards that Islamic financial institutions (IFIs) are legally required to comply with in their jurisdiction and the extent of compliance. The research was previously carried out on 2014 and 2016 data and has now been updated for 2022 data.
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Summary of the March 2024 GPF meeting
05 Apr, 2024
Representatives from the International Accounting Standards Board (IASB) met with the Global Preparers Forum (GPF) in a hybrid meeting on 1 March 2024. A meeting summary from the meeting has now been released.
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Agenda for the April 2024 IFASS meeting
05 Apr, 2024
The International Forum of Accounting Standard Setters (IFASS) will meet on 17-19 April 2024. The meeting will be held in Seoul.
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Summary of the March 2024 CMAC meeting
05 Apr, 2024
Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 8 March 2024. Notes from the meeting have now been released.
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ESRB report on climate-related risks in the financial statements
04 Apr, 2024
The European Systemic Risk Board (ESRB) has published a report on how climate-related risks are reflected in IFRS financial statements. The report finds that while IFRSs generally enable entities to effectively reflect climate-related risks in their financial statements, minor amendments would increase financial stability.
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Accounting roundup — April 2024
published 17 Apr, 2024
This Accounting roundup, covering the period January 2024 through to March 2024, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.
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EFRAG endorsement status report 17 April 2024
published 17 Apr, 2024
The endorsement status report has been updated to reflect that the IASB has published IFRS 18 ‘Presentation and Disclosures in Financial Statements’.
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Need to know — IASB proposes addendum to exposure draft 'Third edition of the IFRS for SMEs Accounting Standard'
published 12 Apr, 2024
This 'Need to know' outlines the proposed amendments to the 'IFRS for SMEs' Accounting Standard set out in exposure draft 'Addendum to the Exposure Draft Third Edition of the IFRS for SMEs Accounting Standard’ published by the International Accounting Standards Board (IASB) on 28 March 2024.
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Need to know — EFRAG proposes ESRS for listed SMEs
published 11 Apr, 2024
This 'Need to know' outlines the exposure draft 'ESRS for listed small- and medium-sized enterprises' that was published by EFRAG on 22 January 2024.
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IFRS on Point — March 2024
published 04 Apr, 2024
'IFRS on Point' highlights critical financial and sustainability reporting developments and main IFRS-related news stories of the previous month.
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Deloitte comment letter on amendments to financial instruments with characteristics of equity
published 28 Mar, 2024
We have commented on the IASB's IFRS Accounting Standard Exposure Draft, ‘Financial Instruments with Characteristics of Equity’.
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Need to know — IASB proposes amendments to improve reporting on acquisitions
published 28 Mar, 2024
On 14 March 2024, the IASB published an exposure draft IASB/ED/2024/1 Business Combinations — Disclosures, Goodwill and Impairment (Proposed amendments to IFRS 3 and IAS 36). It contains proposed amendments that aim at enhanced information on acquisitions. This newsletter outlines the proposed amendments.
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Need to know — SEC adopts rule that requires climate-related disclosures
published 20 Mar, 2024
In March 2024, the SEC adopted a final rule that requires registrants to provide climate-related disclosures in their annual reports and registration statements. This newsletter explains the contents of the rule.
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Deloitte comment letter on GRI Topic Standard Project for Climate Change — 'Climate Change' and 'Energy' exposure drafts
published 05 Mar, 2024
Deloitte Touche Tohmatsu Limited welcomes the opportunity to respond to the 'Climate Change' and 'Energy' exposure drafts (EDs) issued by the Global Reporting Initiative’s (GRI) Global Sustainability Standards Board (GSSB). There is increasing focus by stakeholders on the actions being taken by entities to support commitments made to address climate change. We agree, therefore, that the matters addressed in the EDs should be reflected in the GRI Standards.
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Need to know — EU Taxonomy
published 28 Feb, 2024
This Need to know discusses the EU Taxonomy Regulation that the EU has implemented as part of its broader sustainable finance strategy. The EU Taxonomy is a classification system of economic activities that can be considered ‘environmentally sustainable’ with one (or more) of the six EU environmental objectives laid out in the Regulation. The Regulation sets mandatory requirements on disclosure for those in scope of the Non-Financial Reporting Directive (NFRD) (and the Corporate Sustainability Reporting Directive (CSRD) once it comes into effect). Non-EU entities that have debt or equity securities traded on EU regulated markets may be in scope as a result of the rules of the specific EU regulated market. If not, they will be brought into scope once the CSRD comes into effect.
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ISSB Meeting — 23 April 2024
Start: 23 Apr, 2024 - End: 25 Apr, 2024
The ISSB will meet in Frankfurt on 23 April 2024.
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IASB Meeting — 22–25 April 2024
Start: 22 Apr, 2024 - End: 25 Apr, 2024
The IASB will meet in its offices in London on 22–25 April 2024.
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IASB Meeting — 18–21 March 2024
Start: 18 Mar, 2024 - End: 21 Mar, 2024
The IASB met in its offices in London on 18–21 March 2024.
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ISSB Meeting — 13 March 2024
Start: 13 Mar, 2024 - End: 13 Mar, 2024
The ISSB met in Frankfurt on 13 March 2024.
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IFRS Interpretations Committee meeting — 5 March 2024
Start: 05 Mar, 2024 - End: 05 Mar, 2024
The IFRS Interpretations Committee met on 5 March 2024.
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ISSB Meeting — 21 February 2024
Start: 21 Feb, 2024 - End: 21 Feb, 2024
The ISSB met in New York City on 21 February 2024.
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IASB Meeting — 19–22 February 2024
Start: 19 Feb, 2024 - End: 22 Feb, 2024
The IASB met in its offices in London on 19–22 February 2024.
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ISSB Meeting — 25 January 2024
Start: 25 Jan, 2024 - End: 25 Jan, 2024
The ISSB held a joint meeting with the IASB in its offices in London on 25 January 2024.
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IASB Meeting — 22–25 January 2024
Start: 22 Jan, 2024 - End: 25 Jan, 2024
The IASB met in its offices in London on 22–23 January 2024. On 25 January, the IASB held a joint meeting with the ISSB.
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ISSB Meeting — 13–14 December 2023
Start: 13 Dec, 2023 - End: 14 Dec, 2023
The ISSB met in Frankfurt on 13–14 December 2023.