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  • IASB meeting (blue) Image

  • Pre-meeting summaries for the January 2021 IASB meeting

    20 Jan 2021

    The IASB is meeting on Tuesday 26 January 2021, by video conference. We have posted our pre-meeting summaries for the meetings that allow you to follow the IASB’s decision making more closely. For each topic to be discussed, we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

  • IIRC (International Integrated Reporting Committee) (green) Image

  • IIRC publishes revised Framework

    19 Jan 2021

    The International Integrated Reporting Council (IIRC) has published revisions to the International <IR> Framework, originally released in 2013, to enable more decision-useful reporting.

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  • IASB announces webinar on discussion paper on business combinations under common control

    18 Jan 2021

    On 30 November 2020, the International Accounting Standards Board (IASB) published a discussion paper DP/2020/2 'Business Combinations under Common Control'. The IASB has now announced a live webinar that will provide an overview of the discussion paper, explain the Board’s preliminary views and give the viewers an opportunity to ask questions.

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image

  • IPSASB consultation documents on leases

    18 Jan 2021

    The International Public Sector Accounting Standards Board (IPSASB) has released an exposure draft on leases and a request for information on concessionary leases and other arrangements similar to leases.

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  • Deloitte launches enhanced IFRS e-learning website

    15 Jan 2021

    We are pleased to announce a major redesign to our IFRS e-learning platform. The site allows external users to complete over 40 of Deloitte’s IFRS e-learnings free of charge with 6 million+ uses in recent years.

  • IFRS Foundation (blue) Image
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  • Educational material on going concern requirements

    13 Jan 2021

    The IFRS Foundation has issued educational material, 'Going concern — a focus on disclosure', which intends to supports companies in its implementation of the requirements related to the preparation of financial statements using IFRS Standards on a going concern basis.

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  • December Image

  • IFRS on Point — December 2020

    published 18 Jan 2021

    'IFRS on Point' highlights critical financial reporting developments. It provides a great way to catch up on the main IFRS-related news stories of the previous month.

  • 14 January Image

  • EFRAG endorsement status report 14 January 2021

    published 14 Jan 2021

    The endorsement status report has been updated to reflect that the European Union has formally adopted 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' published by the IASB in August 2020.

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  • Heads Up — FASB issues ASU to refine the scope of ASC 848 in response to reference rate reform

    published 11 Jan 2021

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2021-01, 'Reference Rate Reform (Topic 848): Scope;. The ASU permits entities to elect certain optional expedients and exceptions when accounting for derivative contracts and certain hedging relationships affected by changes in the interest rates used for discounting cash flows, for computing variation margin settlements, and for calculating price alignment interest in connection with reference rate reform activities under way in global financial markets.

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  • Financial Reporting Alert 20-2 — Financial reporting considerations related to COVID-19 and an economic downturn

    published 11 Jan 2021

    This Financial Reporting Alert discusses key accounting and financial reporting considerations related to conditions that may result from the COVID-19 pandemic as well as various industry-specific considerations. Entities may find this publication particularly useful as they address some of the more pervasive and difficult accounting and reporting challenges stemming from the pandemic, including the preparation of forward-looking cash flow estimates; the recoverability and impairment of assets; the accounting for financial assets, contract modifications, and subsequent events; going-concern issues; and SEC reporting considerations.

  • goodwill Image

  • Deloitte comment letter on discussion paper on goodwill

    published 21 Dec 2020

    We support the Board’s initiative to assess whether information provided to investors on business combinations can be improved, including by setting clearer disclosure objectives. However, we are not convinced that the proposals in the discussion paper would result in disclosures that provide more useful information to users of the financial statements. Also, we do not support the preliminary view of the Board not to reintroduce amortisation of goodwill. Finally, without the reintroduction of goodwill amortisation, we strongly diagree with the proposal to remove the requirement to perform a quantitative impairment test every year.

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    • IASB Meeting — 18–19 November 2020

      Start: 18 Nov 2020 - End: 19 Nov 2020

      The IASB met via video conference on 18–19 November 2020. The second day of the meeting was a joint education session with the FASB.

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