Related Discussions

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Oct 18, 2022

• At its meeting on October 18-20, 2022, the IASB met to decide what actions to take on the project based on the feedback on the Exposure Draft. The Board decided (i) to use the methods proposed in the Exposure Draft for developing disclosure requirements; (iii) to use a ‘middle-ground’ approach to drafting disclosure requirements; and (iii) to document the methods for developing disclosure requirements and the approach to drafting them (Guidance for the Board) and publish the document on the IFRS Foundation website. The IASB also decided not to proceed with any further work on the disclosure requirements in IFRS 13, Fair Value Measurement, and IAS 19, Employee Benefits. The IASB will publish the Guidance for the Board and a Project Summary.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures - International Accounting Standards Board

• Jul 18, 2022

• At its meeting on July 18-21, 2022, the IASB met to explore possible ways of taking the project forward in the light of the feedback on its Exposure Draft. The IASB was not asked to make any decisions. The IASB will decide the project’s direction.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• May 23, 2022

• At its meeting on May 23-27, 2022, the IASB met to discuss feedback provided in comment letters on its Exposure Draft. The IASB also discussed preliminary views on the next steps for this project. The IASB was not asked to make any decisions. The IASB will consider the next steps for this project at a future meeting.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Feb 21, 2022

• At its meeting on February 21-24, 2022, the IASB met to discuss feedback from preparer fieldwork participants and users of financial statements on the Exposure Draft. The IASB was not asked to make any decisions at this meeting. The IASB will discuss comment letter feedback and its plans for redeliberating the project proposals at future meetings.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – AcSB

• Nov 10, 2021

• At its meeting on November 10-11, 2021, the AcSB discussed its draft response letter to the IASB’s Exposure Draft and provided staff with comments to incorporate into the final letter. The Board encourages stakeholders to share their views on the Exposure Draft by submitting their response letters to the IASB by January 12, 2022, with a copy to the AcSB. If respondents would like the Board to consider their comments before finalizing its letter to the IASB, they should submit their response letters to the AcSB before December 15, 2021.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – AcSB

• Oct 13, 2021

• At its meeting on October 13-14, 2021, the AcSB discussed the key points to include in its response letter to the IASB’s Exposure Draft. As part of the discussion, the Board considered stakeholder feedback obtained through its outreach on this project, including a targeted user event. The Board will discuss a draft of its response letter at its meeting in November 2021.The AcSB encourages stakeholders to share their views on the Exposure Draft by submitting comment letters to the IASB by January 12, 2022, with a copy to the AcSB.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Jul 20, 2021

• At its meeting on July 20-21, 2021, the IASB decided to extend the comment period for the Exposure Draft from 210 days to 293 days, so that it ends on January 12, 2022. The Board noted that this unusually long comment period is justified only because of the unique nature of, and significant new thinking in, the proposals. In particular, the comment period will allow more time for preparers to conduct fieldwork and provide feedback on the practical application of the proposals.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – AcSB

• May 05, 2021

• At its meeting on May 5, 2021, the AcSB received an education session on the IASB's Exposure Draft. The Board discussed plans to respond to the Exposure Draft and requested staff to assess the extent of outreach it will undertake on this project, including a coordinated approach that includes the forthcoming AcSB Draft Strategic Plan and the demands that will be placed on stakeholders. Stakeholders are encouraged to monitor the AcSB’s website for opportunities to share feedback on the Exposure Draft. Response letters to the IASB (with a copy to the AcSB) are due on October 21, 2021.

• Disclosure Initiative – Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Jun 23, 2020

• At its meeting on June 23-25, 2020, the IASB tentatively decided to allow 180 days for comment on an Exposure Draft of its proposed amendments to the disclosure sections of IAS 19, Employee Benefits, and IFRS 13, Fair Value Measurement. All 14 Board members confirmed that they were satisfied that the Board has complied with the applicable due process requirements and has, in particular, undertaken sufficient consultation and analysis to begin the process for balloting the Exposure Draft. No Board member indicated that he or she intends to dissent from the proposals in the Exposure Draft, but two Board members indicated that they might do so depending on the drafting of the proposals. The Board plans to publish its Exposure Draft in March 2021.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Feb 26, 2020

• At its meeting on February 26, 2020, the IASB met to continue its discussions on the specific disclosure objective for the drivers of change in fair value measurements to be included in IFRS 13. The Board tentatively decided to revise three preliminary decisions made in September and November 2019 relating to the specific disclosure objective about the drivers of change in fair value measurements. The Board tentatively decided that: (i) an entity would be required to meet a specific objective to disclose information that will enable users to understand the significant drivers of change in fair value measurements over a reporting period; (ii) to meet the objective in (i), an entity would be required to disclose a reconciliation from the opening to the closing balances of recurring fair value measurements classified in Level 3 of the fair value hierarchy; and (iii) any explanation of significant drivers of change in fair value measurements—other than those classified in Level 3 of the fair value hierarchy—would be identified as an example of information that an entity may, but is not required to, disclose to meet the objective in (i). The Board will discuss due process steps for an Exposure Draft of its proposals at a future meeting.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Jan 29, 2020

• At its meeting on January 29, 2020, the IASB continued its discussion on information that could meet the specific disclosure objective on expected future cash flows for defined benefit plans that the Board had tentatively agreed at its July 2019 meeting and made a number of tentative decisions in this regard. The Board also considered how its tentative decisions about disclosures in IAS 19 compare to the disclosure requirements in the Standard and whether those tentative decisions should be refined. As a result, the Board tentatively decided (i) on a number of changes to the required disclosures in respect of defined benefit plans; (ii) to leave unchanged its tentative decisions on defined contribution plans, short-term employee benefits, other long-term employee benefits and termination benefits; and (iii) re multi-employer plans, to identify information an entity may but is not required to provide to meet the specific disclosure objective on the nature and risks of the plans. At a future meeting, the Board will consider (a) whether to amend IFRS 13 to include a separate disclosure objective and information that could be used to meet the objective on the effect of fair value measurement on the statement of financial performance; and (b) will also discuss the lessons learned during the testing phase of the targeted Standards-level review of disclosures and any resulting potential amendments to the Board’s draft guidance for developing and drafting disclosure objectives and requirements.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Nov 19, 2019

• At its meeting on November 19, 2019, the IASB met to discuss items of information that could be used to meet the disclosure objectives the Board has tentatively decided on for IAS 19, Employee Benefits, and IFRS 13, Fair Value Measurement. The Board discussed and made tentative decisions with respect to (i) use of language considerations (Agenda Paper 11A); (ii) IAS 19 items of information for disclosure (Agenda Paper 11B); and (iii) IFRS 13 items of information for disclosure (Agenda Paper 11C). At a future meeting, the Board will: (a) further discuss items of information to meet the specific disclosure objective about understanding the expected future cash flows resulting from the defined benefit obligation and the nature of those cash flows; (b) consider whether a separate disclosure objective, and items of information, should be included in IFRS 13 about understanding the effect of fair value measurements on the statement of financial performance; (c) discuss a comparison of the Board’s tentative decisions about IAS 19 disclosure to the disclosure requirements in the Standard; and (d) discuss lessons learned through the targeted standards-level review of disclosures testing process and resulting potential amendments to the Board’s draft guidance for developing and drafting disclosure objectives and requirements in future.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Sep 25, 2019

• At its meeting on September 25, 2019, the IASB to discuss amendments to the disclosure objectives in IFRS 13, Fair Value Measurement, including (i) a high-level, catch-all disclosure objective; (ii) specific disclosure objectives; and (iii) other user information needs. At a future meeting, the Board will discuss: (a) items of information to meet the disclosure objectives in IAS 19, Employee Benefits; (b) items of information to meet the disclosure objectives in IFRS 13; and (c) lessons learned from the Targeted Standards-level Review of Disclosures testing process and potential amendments to the Board’s draft guidance on developing and drafting disclosure objectives and requirements in future.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Jul 22, 2019

• At its meeting on July 22-25, 2019, the Board met to discuss amendments to the disclosure objectives in IAS 19, Employee Benefits. With respect to defined benefit plans, the Board discussed and made tentative conclusions with respect to: (i) a high-level, catch-all disclosure objective; (ii) the inclusion of a number of specific disclosure objectives; and (iii) whether to include specific disclosure objectives to address the information needs of users of financial statements for certain information. With respect to employee benefits other than defined benefit plans, the Board discussed and made tentative conclusions with respect to: (i) a high-level, catch-all disclosure objective for defined contribution plans; (ii) disclosures in respect of multi-employer and group plans; and (iii) disclosures in respect of other employee benefits. At a future meeting, the Board will discuss: (a) items of information that could be used to meet the proposed disclosure objectives in IAS 19; and (b) disclosure objectives in IFRS 13, Fair Value Measurement, and items of information that could be used to meet those objectives. At the joint meeting with the FASB on July 23, 2019, the Boards also shared experiences and feedback from stakeholders on disclosure requirements for employee benefits and fair value measurement.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• May 14, 2019

• At its meeting on May 14-16, 2019, the Board met to hear a summary of feedback from stakeholders on disclosures about employee benefits and fair value measurements; and to discuss proposed approaches to developing technical analysis and recommendations in light of that feedback. The Board tentatively decided to: (i) explore whether disclosure of new or different information about employee benefits would more effectively meet the needs of stakeholders than the existing IAS 19 disclosure requirements; and (ii) explore helping preparers to make effective materiality judgements about fair value measurement disclosures. The Board will discuss detailed technical analysis of the disclosure requirements in IAS 19 and IFRS 13 at future meetings.

• Disclosure initiative — Accounting Policies – International Accounting Standards Board

• Oct 24, 2018

• At its meeting on October 24, 2018, the International Accounting Standards Board (the Board) discussed: (i) progress on the Targeted Standards-level Review of Disclosures; and (ii) guidance and examples intended to help entities apply the four-step materiality process in IFRS Practice Statement 2—Making Materiality Judgements(Materiality Practice Statement) when determining which accounting policies to disclose. The Board received an oral update from the staff about progress on the Targeted Standards-level Review of Disclosures. The Board was not asked to make any decisions. The Board tentatively decided to clarify that not all accounting policies relating to material transactions, other events or conditions are themselves material. And they tentatively decided to continue developing guidance and examples to help entities decide whether the accounting policies they apply to material transactions, other events or conditions are themselves material. The Board asked the staff to perform some further analysis and expects to continue its discussion about accounting policy disclosures at a future meeting.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Sep 19, 2018

• At its meeting on September 19 and 20, 2018, the International Accounting Standards Board (the Board) reviewed a summary of draft guidance for the Board to use when developing and drafting disclosure objectives and requirements. The Board tentatively approved the draft guidance and asked the staff to move on to testing the guidance on IAS 19 Employee Benefits and IFRS 13 Fair Value Measurements. The Board expects to continue its discussion about testing the guidance for the Board to use when developing and drafting disclosure requirements at future meetings.

• Disclosure Initiative - Targeted Standards-level Review of Disclosures – IASB

• Jul 18, 2018

• At its meeting on July 18, 2018, the Board discussed and made tentative decisions with respect to Board Guidance re this project regarding (i) the use of language; (ii) the use of formatting and presentation; and (iii) procedures for drafting disclosure objectives and requirements. The Board tentatively decided to select IAS 19, Employee Benefits, and IFRS 13, Fair Value Measurement, to test the draft guidance for the Board to use when developing and drafting disclosure requirements. The Board expects to continue its discussion about testing the guidance for the Board to use when developing and drafting disclosure requirements at future meetings.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• Jun 20, 2018

• At its meeting on June 20-21, 2018, the International Accounting Standards Board (the Board) tentatively decided that, when developing disclosure objectives and requirements in future, a member of the IFRS Taxonomy team will be assigned in an advisory capacity to each of the IASB's active projects. In addition, the Board received a summary of the work performed by the staff relating to the selection of one or two Standards for the IASB's Targeted Standards-level Review of Disclosures. The IASB discussed feedback received to date on a shortlist of Standards. The IASB was not asked to make any decisions.

• Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

• May 22, 2018

• At its meeting on May 22, 2018, the Board tentatively decided that when developing and drafting disclosure requirements in future, the Board will: (i) base all disclosure requirements on one or more specific disclosure objectives. These objectives should explain why the information is useful to the primary users of financial statements, and what primary users of financial statements are expected to do with the information; and (ii) draft all disclosure requirements so they explicitly state the underlying objective(s) and clearly link each item of information included in disclosure requirements with the related objective(s). The Board also tentatively decided that it will continue to use high-level disclosure objectives within individual IFRS Standards. The purpose of these objectives would be to prompt entities to consider the overall disclosure relating to a particular topic in their financial statements and whether the information provided meets user information needs for that topic. The Board expects to continue its discussion on guidance for the Board to use when developing and drafting disclosure requirements at future meetings.