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Deloitte comment letter on the draft ESRS
10 Aug 2022
We have commented on the draft European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG) and released for comment in April 2022.
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IASB publishes short video on results of its agenda consultation
03 Aug 2022
On 29 July, the International Accounting Standards Board (IASB) concluded its third agenda consultation by releasing a feedback statement. In a video now released, IASB Chair Andreas Barckow discusses the reasons for the IASB’s decisions as result of the agenda consultation and how the IASB responded to the extensive feedback from its diverse stakeholders.
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IFRS Foundation and Value Reporting Foundation complete consolidation
01 Aug 2022
The consolidation of the Value Reporting Foundation (VRF) into the IFRS Foundation has been completed.
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IASB issues podcast on latest Board developments (July 2022)
01 Aug 2022
The IASB has released a podcast featuring IASB Chair Andreas Barckow and Executive Technical Director Nili Shah discussing deliberations at the July 2022 IASB meeting.
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ISSB issues podcast on latest Board developments (July 2022)
29 Jul 2022
The IFRS Foundation has released the first podcast discussing highlights from the inaugural ISSB meeting. The podcast is hosted by ISSB Chair Emmanuel Faber and Vice-Chair Sue Lloyd.
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IASB concludes agenda consultation by releasing a feedback statement
29 Jul 2022
On 30 March 2021, the International Accounting Standards Board (IASB) launched its third public consultation to seek broad public input on the strategic direction and overall balance of its future work programme.
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IOSCO identifies key issues to focus on when evaluating the ISBB standards
28 Jul 2022
At its recent Board meeting, the International Organization of Securities Commissions (IOSCO) welcomed the strong stakeholder engagement on proposals for a comprehensive global baseline of sustainability disclosures for capital markets. Board members agreed the criteria which IOSCO will use to assess the ISSB standards and have also identified the key issues for IOSCO to focus on.
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July 2022 ISSB meeting notes posted
27 Jul 2022
The ISSB met in Frankfurt on Wednesday 20 and Thursday 21 July 2022. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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July 2022 IASB meeting notes posted
27 Jul 2022
The IASB met in London over four days, from Monday 18 to Thursday 21 July 2022. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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IFRS Foundation Trustees seek to fill Advisory Council vacancies
27 Jul 2022
The Trustees of the IFRS Foundation are calling for candidates to fill vacancies occurring at the end of 2022 for membership to the IFRS Advisory Council. In addition, the Trustees have agreed to a temporary expansion of the Advisory Council to reflect the recent creation of the ISSB that has led to an expanded remit of the Advisory Council.
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IFRS Foundation Trustees and Due Process Oversight Committee hold June 2022 meetings
21 Jul 2022
The IFRS Foundation Trustees met on 28–30 June 2022 and the Due Process Oversight Committee (DPOC) met on 28 June 2022. Both meetings were held in Montreal.
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G20 Chair summarises meeting of Finance Ministers and Central Bank Governors
19 Jul 2022
While the meeting of the G20 Finance Ministers and Central Bank Governors on 16-17 July 2022 in Bali ended without a joint communiqué, the G20 Chair has issued a summary of the discussions and results.
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Summary of the June 2022 joint CMAC-GPF meeting
18 Jul 2022
Representatives from the International Accounting Standards Board (IASB) met with both the Capital Markets Advisory Council (CMAC) and Global Preparers Forum (GPF) in London on 16–17 June 2022. A meeting summary from the joint meeting have now been released.
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Report of the May 2022 Emerging Economies Group meeting
18 Jul 2022
The 23nd meeting of the IASB's Emerging Economies Group (EEG) was held in hybrid format on 16–17 May 2022. The IASB has published a full report of the meeting.
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IASB publishes editorial corrections
18 Jul 2022
The IASB has published a second set of editorial corrections for 2022.
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ESRS outreach event focused on trade unions and NGOs
05 Jul 2022
On 13 July 2022, the European Financial Reporting Advisory Group (EFRAG) will host a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special focus on trade unions and non-governmental organisations (NGOs).
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Second IVSC perspectives paper on social value
05 Jul 2022
The International Valuation Standards Council (IVSC) is publishing perspectives papers on 'Defining and Estimating ‘Social Value’'. The second paper in the series has now become available.
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Agenda for the July 2021 ITCG meeting
04 Jul 2022
The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be a hybrid meeting on 13-14 July 2022.
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Short summary of the IFRS Foundation Conference 2022
01 Jul 2022
The IFRS Foundation Conference 2022 was held on 23 and 24 June 2022, split into one sustainability day and one accounting day. The IFRS Foundation has now published a short summary of the conference on its website.
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ESRS outreach event focused on SMEs
30 Jun 2022
On 8 July 2022, the European Financial Reporting Advisory Group (EFRAG) will host a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special focus on small and medium-sized entities (SMEs).
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Roadmap: Share-Based Payment Awards (2022)
published 12 Aug 2022
This Roadmap provides Deloitte’s insights into and interpretations of the guidance on share-based payment arrangements in ASC 718 related to employee and nonemployee awards and in other literature (e.g., ASC 260 and ASC 805).
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EFRAG endorsement status report 12 August 2022
published 12 Aug 2022
The endorsement status report has been updated to reflect that European Union has endorsed the amendments to IAS 12 'Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction'.
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On the Radar — Share-Based Payment Awards
published 11 Aug 2022
To incentivize employee performance and align the interests of employees and shareholders, entities often grant share-based payment awards — including stock options, restricted stock, restricted stock units, stock appreciation rights, and other equity-based instruments — in exchange for services. To a lesser extent, entities also grant such awards to compensate vendors for goods and services or as sales incentives to customers.
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IPSAS in your pocket — 2022 edition (Updated)
published 11 Aug 2022
This guide summarises the provisions of all International Public Sector Accounting Standards (IPSAS), recommended practice guidelines and the conceptual framework, outstanding at 1 January 2022. This edition has been update to include IPSAS 43 and IPSAS 44.
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IFRS on Point — July 2022
published 10 Aug 2022
IFRS on Point highlights critical financial and sustainability reporting developments and information of the previous month.
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Deloitte comment letter on the draft European Sustainability Reporting Standards (ESRS)
published 10 Aug 2022
Deloitte supports consistent reporting of high-quality, relevant, reliable and comparable information that will enable investors and other relevant stakeholders to make decisions that support the transition to a green and inclusive economy. The draft European Sustainability Reporting Standards (ESRS) are comprehensive and generally have the potential to result in relevant information, but we have key concerns that they will create issues for the quality of the information provided, the effective implementation and enforceability of the standards, and consequently will not support the ultimate objective.
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On the Radar — Initial Public Offerings
published 05 Aug 2022
After a record-breaking year for initial public offerings (IPOs) and special-purpose acquisition companies (SPACs) in 2021, the market began slowing down significantly in the first half of 2022 amid various challenges, including volatile markets; geopolitical conflicts; inflation; supply chain issues; and COVID-19, which continued to affect the global economy. In light of such challenges, private companies continue to evaluate the methods used to go public. Such methods include a “traditional” IPO, in which a private company sells its equity in a public underwritten offering.
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Roadmap: Initial Public Offerings (2022)
published 05 Aug 2022
This Roadmap addresses financial reporting, accounting, and auditing considerations to help companies navigate challenges related to preparing an IPO registration statement and ultimately going public. The 2022 update of this publication includes coverage of recently proposed SEC rules related to SPAC transactions and climate-related disclosures, which could affect companies entering the public markets.
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Roadmap: Carve-Out Transactions (2022)
published 02 Aug 2022
This Roadmap discusses key factors for entities to consider as they prepare their carve-out financial statements (i.e., financial statements derived from the financial statements of a larger parent entity).
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Financial Reporting Alert 22-2 (Updated) — SEC issues Staff Accounting Bulletin on accounting for obligations to safeguard crypto-assets
published 28 Jul 2022
This Financial Reporting Alert discusses the SEC’s recently issued Staff Accounting Bulletin (SAB) No. 121. The new SAB (1) provides the SEC staff’s view that it would be appropriate for an entity that has an obligation to safeguard crypto-assets held for platform users to record a liability and corresponding asset on its balance sheet at the fair value of the crypto-assets and (2) adds Section FF to SAB Topic 5, which includes “interpretive guidance for entities to consider when they have obligations to safeguard crypto-assets held for their platform users.”
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ISSB Meeting — 20–21 July 2022
Start: 20 Jul 2022 - End: 21 Jul 2022
The ISSB held its inaugural meeting on 20–21 July 2022 in Frankfurt.
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IASB Meeting — 18–21 July 2022
Start: 18 Jul 2022 - End: 21 Jul 2022
The IASB met in its offices in London on 18–21 July 2022.
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IASB Meeting — 20–22 June 2022
Start: 20 Jun 2022 - End: 22 Jun 2022
The IASB met in London on 20–22 June 2022.
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IFRS Interpretations Committee meeting — 14–15 June 2022
Start: 14 Jun 2022 - End: 15 Jun 2022
The IFRS Interpretations Committee met on 14–15 June 2022 to discuss six topics.
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IASB Meeting — 23–27 May 2022
Start: 23 May 2022 - End: 27 May 2022
The IASB met via video conference on 23–27 May 2022.
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IASB Meeting — 25–28 April 2022
Start: 25 Apr 2022 - End: 28 Apr 2022
The IASB met via video conference on 25–28 April 2022.
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IFRS Interpretations Committee meeting — 20 April 2022
Start: 20 Apr 2022 - End: 20 Apr 2022
The IFRS Interpretations Committee met via video conference on 20 April 2022 to discuss one topic.
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IASB Meeting — 22–24 March 2022
Start: 22 Mar 2022 - End: 24 Mar 2022
The IASB met in its offices in London on 22–24 March 2022.
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IFRS Interpretations Committee meeting — 15-16 March
Start: 15 Mar 2022 - End: 16 Mar 2022
The IFRS Interpretations Committee met via video conference on 15 and 16 March 2022 to discuss five topics.
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IASB Meeting — 21–24 February 2022
Start: 21 Feb 2022 - End: 24 Feb 2022
The IASB met in its offices in London on 21–24 February 2022.