• (329k) – New and revised accounting pronouncements, reporting deadlines and other useful information
• (1,353k) – An illustrative model annual report
• (412k) – Illustrative AASB 7 disclosures for early adopters
• (417k)

IPSASB ED 31 addresses the four categories of employee benefits dealt with in IAS 19:

• Short-term employee benefits;
• Post-employment benefits;
• Other long-term employee benefits; and
• Termination benefits.

• Determining the risk-free discount rate to be applied for discounting obligations arising from post-employment benefits;
• The treatment of post-employment benefits provided through composite social security programs; and
• Mechanisms for the orderly implementation of the proposed standard in the public sector.

• Roundtable for Consistent Application of IFRSs At the (PDF 22k) meeting, three matters of 'common concern' were identified.
  • Reassessment of embedded derivatives (broadening of IFRIC 9) – expected to be referred to IFRIC
  • De facto control – to be raised with the IASB
  • Common control transactions – to be raised with the IASB
• IFRIC working procedures and due process (draft EC comment letter)
• Equivalence between IFRS and third country GAAP, in particular US GAAP (discussion of (PDF 34k) amd (PDF 36k))
• Relationship between the IAS Regulation and the 4th and 7th company law Directives (meaning of 'annual accounts in accordance with adopted IASs'). Issues raised included:
  • Which accounting rules apply to separate company financial statements
  • Whether a company preparing both consolidated and individual IFRS financial statements could issue its individual statements before the consolidated
  • Whether listed companies that do not prepare consolidated financial statements because they have no subsidiaries must follow IFRSs
  • How to determine whether an issuer on a regulated market is required to prepare consolidated financial statements, including materiality of subsidiaries
• IFRIC 10 Interim Financial Reporting and Impairment – endorsement will be considered at the 24 November 2006 ARC meeting
• Standards Advice Review Group – update on recruitment
• Project of consolidation and language revision of endorsed IFRSs

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IFRIC X Service Concession Arrangements

At its September 2006 meeting the IFRIC decided to present the revised draft text of IFRIC X Service Concession Arrangements to the Board as a final draft and that the Board should be asked for approval to issue the Interpretation (see our Report of This Meeting elsewhere on www.iasplus.com.

The Board briefly discussed the revised draft text without making other than editorial changes to it.

The Board unanimously supported the revised draft. It was decided to post the revised draft on the IASB website and to give constituents an opportunity to comment on it within a short comment period. The Board intends to approve a final Interpretation at its November 2006 meeting.

IFRIC Draft Interpretation D19: IAS 19–The Asset Ceiling: Availability of Economic Benefits and Minimum Funding Requirements

31 October 2006

Discussion Paper: Preliminary Views on an improved Conceptual Framework for Financial Reporting: The Objective of Financial Reporting and Qualitative Characteristics of Decision-useful Financial Reporting Information

3 November 2006

IFRIC Draft Interpretation D20: Customer Loyalty Programmes

6 November 2006