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IFRS Sustainability Webinar Series: Episode 4 to focus on Pan-African insights
02 Oct 2024
The fourth episode of the IFRS Sustainability webinar series, ‘Perspectives on Sustainability Disclosure’, will take place on 17 October 2024 and will focus on the Pan-African approach to sustainability disclosure. This session will explore how countries like Ghana, Nigeria, and Tanzania are advancing towards the adoption of the ISSB Standards.
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Webcast on IASB’s proposals on climate-related and other uncertainties in financial statements
01 Oct 2024
The IASB hosted a webcast on its Exposure Draft ‘Climate-related and Other Uncertainties in the Financial Statements’, which aims to enhance the transparency and relevance of financial reporting in the context of climate-related risks.
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October 2024 IASB-FASB education meeting agenda posted
30 Sep 2024
The IASB has posted the agenda for its next meeting, which will be held with the FASB on 11 October 2024. There are 18 topics on the agenda.
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IASB completes post-implementation review of IFRS 15
30 Sep 2024
The IASB has completed its post-implementation review of IFRS 15 'Revenue from Contracts with Customers'. The review has shown that the standard is working as intended, providing users with more useful information about a company's revenue.
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September 2024 IASB meeting notes posted
26 Sep 2024
The IASB met in London on 16-18 September 2024. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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Standard setters discuss intangibles
25 Sep 2024
The International Forum of Accounting Standard Setters (IFASS) is currently holding its fall meeting in London. One of the sessions of the meeting was devoted to the IASB's research project on intangible assets and how it relates to research by other standard setters.
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IFRS Foundation publishes guide for voluntary application of the ISSB standards
25 Sep 2024
The IFRS Foundation has published a guide that is intended to support entities that voluntarily apply ISSB standards.
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IASB issues podcast on latest Board developments (September 2024)
25 Sep 2024
The IASB has released a podcast hosted by Executive Technical Director Nili Shah featuring IASB Chair Andreas Barckow and IASB Member Patrina Buchanan discussing the deliberations held during the September 2024 IASB meeting.
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Presentation on connectivity at WSS meeting
24 Sep 2024
At the World Standard Setters (WSS) conference currently being held in London, staff of the IASB and staff of the ISSB presented on the connectivity between the financial statements and sustainability-related financial disclosures.
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September 2024 ISSB meeting notes posted
24 Sep 2024
The ISSB met on 18 September 2024 in Frankfurt. We have posted our comprehensive Deloitte observer notes for the projects discussed during the meeting.
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Pakistan considers staged adoption approach for ISSB standards
04 Oct 2024
The Securities and Exchange Commission of Pakistan (SECP) is considering a staged adoption approach for the ISSB standards and has initiated a public consultation on the criteria and timelines.
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EFRAG draft comment letter on the proposed hyperinflation amendments
26 Sep 2024
EFRAG has issued a draft comment letter on the IASB's proposed amendments regarding translations to a hyperinflationary presentation currency.
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World Bank and IFRS Foundation expand partnership to support adoption of ISSB standards
26 Sep 2024
The World Bank Group and the IFRS Foundation have committed to expand the coverage of their existing memorandums of understanding to support the adoption of ISSB standards in emerging markets and developing economies, with a focus on proportionality.
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Recent sustainability and integrated reporting developments
26 Sep 2024
A summary of recent events at the IFRS Foundation, IAASB, GRI, World Benchmarking Alliance, TNFD, CDP, CVM, IVSC, VBA, IFVI and WBCSD.
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Summary of the September 2024 SME Implementation Group meeting
25 Sep 2024
The IASB has issued a report on the SME Implementation Group (SMEIG) meeting held on 3 September 2024.
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EFRAG draft comment letter on the proposed amendments to IFRS 19
24 Sep 2024
EFRAG has issued a draft comment letter on the IASB's proposed amendments intended to catch up with new or amended IFRS Accounting Standards issued between 28 February 2021 and 1 May 2024.
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Agenda for the September 2024 ITCG meeting
24 Sep 2024
The IFRS Foundation has released an agenda and meeting papers for the meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be held in London on 30 September and 1 October 2024.
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Malaysia publishes National Sustainability Reporting Framework addressing the use of ISSB standards
24 Sep 2024
The Securities Commission (SC) of Malaysia has published the National Sustainability Reporting Framework (NSRF) which addresses the use of the standards issued by the International Sustainability Standards Board (ISSB) as the baseline for sustainability reporting in Malaysia.
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Singapore will move forward with the incorporation of ISSB standards, albeit slightly scaled back
23 Sep 2024
The Singapore Exchange Regulation (SGX RegCo) has announced its decisions as result of its consultation on requiring ISSB-aligned climate-related disclosures.
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EFRAG draft comment letter on the IASB's climate examples
23 Sep 2024
EFRAG has issued a draft comment letter on the IASB's proposed illustrative examples on climate-related and other uncertainties in the financial statements.
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Heads Up — FASB Proposes Clarifications to the Accounting for Share-Based Consideration Payable to a Customer
published 01 Oct 2024
This Heads Up discusses key provisions of the FASB’s proposed Accounting Standards Update Clarifications to Share-Based Consideration Payable to a Customer. The proposed amendments are intended to clarify the guidance in ASC 606 and ASC 718 on the accounting for share-based payment awards that are granted by an entity as consideration payable to its customer.
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Heads Up — #DeloitteESGNow — California Climate Legislation Update — Reporting Deadlines Remain Unchanged Under SB-219
published 01 Oct 2024
This Heads Up briefly discusses SB-219, Greenhouse Gases: Climate Corporate Accountability: Climate-Related Financial Risk, which amends portions of Sections 38532 and 38533 of the California Health and Safety Code that were established upon the passage of California state senate bills SB-253, Climate Corporate Data Accountability Act, and SB-261, Greenhouse Gases: Climate-Related Financial Risk. While the new legislation is expected to reduce the financial burden of complying with SB-253, it does not delay the reporting deadlines under SB-253 or SB-261.
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EFRAG endorsement status report 1 October 2024
published 01 Oct 2024
The endorsement status report has been updated to reflect that EFRAG has now received the request for endorsement advice from the European Commission regarding IFRS 19 'Subsidiaries without Public Accountability: Disclosures' and 'Annual Improvements to IFRS Accounting Standards — Volume 11'.
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Heads Up — FASB Proposes Improvements to Hedge Accounting Guidance
published 30 Sep 2024
This Heads Up discusses the FASB’s proposed Accounting Standards Update (ASU) 'Hedge Accounting Improvements', which would amend certain facets of the hedge accounting guidance in ASC 815. The proposal is intended to address issues raised by stakeholders during the implementation of ASU 2017-12 and more recent concerns that have surfaced as a result of the global reference rate reform initiative.
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Roadmap: Comparing IFRS Accounting Standards and U.S. GAAP (2024)
published 30 Sep 2024
This Roadmap provides an overview of the most significant differences between U.S. GAAP and IFRS® Accounting Standards — two of the most widely used accounting standards in the world. The 2024 edition includes updated and expanded guidance that reflects standards effective as of January 1, 2025, for calendar-year-end public entities.
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On the Radar — Comparing IFRS Accounting Standards and U.S. GAAP: Bridging the differences
published 30 Sep 2024
Although U.S. GAAP and IFRS® Accounting Standards are built on largely similar concepts and often lead to similar accounting outcomes, there are many differences in the specific accounting requirements. Therefore, it can be difficult to directly compare financial statements that have been prepared under these different standards. Accordingly, professionals need to be mindful of the differences between U.S. GAAP and IFRS Accounting Standards when preparing, aggregating, consolidating, comparing, or interpreting financial information that involves both sets of accounting standards.
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Roadmap: Carve-Out Transactions (2024)
published 27 Sep 2024
This Roadmap discusses key factors for entities to consider as they prepare their carve-out financial statements. “Carve-out financial statements” is a general term used to describe financial statements derived from the financial statements of a larger parent entity. Such statements are often required when a parent entity wishes to pursue a sale, spin-off, initial public offering, or special-purpose acquisition company transaction involving a portion of the parent entity. In addition, they are necessary in various types of transactions as a means of reflecting the portion of a parent entity’s balances and activities that are being “carved out.”
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On the Radar — Carve-Out Transactions
published 27 Sep 2024
This publication briefly summarizes key management considerations and common pitfalls associated with preparing carve-out financial statements.
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Quarterly Accounting Roundup — Third Quarter — 2024
published 24 Sep 2024
This edition discusses financial reporting developments that occurred in the third quarter of 2024.
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iGAAP in Focus — Financial reporting: IASB proposes amendments to IAS 28 to answer application questions on how an investor applies the equity method
published 24 Sep 2024
This 'iGAAP in Focus' outlines the proposed amendments to IAS 28 'Investments in Associates and Joint Ventures' set out in Exposure Draft (ED) 'Equity Method of Accounting', published by the International Accounting Standards Board (IASB) on 19 September 2024.
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IASB | FASB Meeting — 11 October 2024
Start: 11 Oct 2024 - End: 11 Oct 2024
The IASB will hold an education meeting with the FASB on 11 October 2024.
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ISSB Meeting — 18 September 2024
Start: 18 Sep 2024 - End: 18 Sep 2024
The ISSB met in Frankfurt on 18 September 2024.
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IASB Meeting — 16–18 September 2024
Start: 16 Sep 2024 - End: 18 Sep 2024
The IASB met in London on 16–18 September 2024.
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IFRS Interpretations Committee meeting — 10 September 2024
Start: 10 Sep 2024 - End: 10 Sep 2024
The IFRS Interpretations Committee met on 10 September 2024.
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IASB Meeting — 28 August 2024
Start: 28 Aug 2024 - End: 28 Aug 2024
The IASB met virtually on 28 August 2024.
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ISSB Meeting — 24-25 July 2024
Start: 24 Jul 2024 - End: 25 Jul 2024
The ISSB met in Montreal on 24-25 July 2024.
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IASB Meeting — 22–24 July 2024
Start: 22 Jul 2024 - End: 24 Jul 2024
The IASB met in its offices in London on 22–24 July 2024.
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IASB Meeting — 19–21 June 2024
Start: 19 Jun 2024 - End: 21 Jun 2024
The IASB met in its offices in London on 19–21 June 2024 and held a joint meeting with the FASB via video conference on 21 June 2024.
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ISSB Meeting — 12 June 2024
Start: 12 Jun 2024 - End: 12 Jun 2024
The ISSB met in a hybrid format (virtual and in Frankfurt) on 12 June 2024.
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IFRS Interpretations Committee meeting — 11 June 2024
Start: 11 Jun 2024 - End: 11 Jun 2024
The IFRS Interpretations Committee met on 11 June 2024.