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Multilateral Development Banks confirm support for work of the ISSB at COP28
30 Nov 2023
At COP 28, currently held in Dubai, United Arab Emirates, the Asian Infrastructure Investment Bank, the European Investment Bank, the Inter-American Development Bank and the European Bank for Reconstruction and Development have confirmed their support for the work of the International Sustainability Standards Board (ISSB).
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IASB publishes proposed amendments regarding financial instruments with characteristics of equity
29 Nov 2023
The International Accounting Standards Board (IASB) has published an exposure draft IASB/ED/2023/5 'Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1)'. It contains proposed amendments that aim at clarifying the classification requirements in IAS 32 'Financial Instruments:Presentation', including their underlying principles, to address known practice issues that arise in applying IAS 32. Comments are requested by 29 March 2024.
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IFRS Foundation video on proposed changes to IFRS Accounting Taxonomy 2023
28 Nov 2023
The IFRS Foundation has issued a video featuring IASB Member Ann Tarca who provides an explanation of the proposed changes to the IFRS Accounting Taxonomy for 2023.
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Pre-meeting summaries for the November 2023 IFRS Interpretations Committee meeting
27 Nov 2023
The IFRS Interpretations Committee (Committee) meets on 28-29 November 2023. The IFRS IC will discuss two new items, finalisation of one agenda decision and input to three International Accounting Standards Board (IASB)’s projects.
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IASB begins webcast series on the forthcoming standard for subsidiaries
23 Nov 2023
The IASB has released the first in a series of webcasts explaining the requirements in the forthcoming reduced-disclosure standard for subsidiaries of parent companies that apply IFRSs.
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IASB Research Forum 2023 Highlights
22 Nov 2023
On 2–4 November 2023, the IASB in collaboration with the European Accounting Association held a research forum which discussed the accounting for intangible assets.
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November 2023 IFRS Interpretations Committee meeting agenda posted
21 Nov 2023
The IFRS Interpretations Committee has posted the agenda for its next meeting, which will be held on 28–29 November 2023.
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November 2023 ISSB meeting notes posted
21 Nov 2023
The ISSB met in Beijing on 15–16 November 2023. We have posted our comprehensive Deloitte observer notes for the projects discussed during the meeting.
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November 2023 IASB meeting notes posted
21 Nov 2023
The IASB met in London from 13-15 November 2023. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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IASB issues podcast on latest Board developments (November 2023)
21 Nov 2023
The IASB has released a podcast featuring IASB Chair Andreas Barckow, IASB Vice-Chair Linda Mezon-Hutter, and Executive Technical Director Nili Shah dis-cussing deliberations at the November 2023 IASB meeting.
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Academic study on the costs and benefits of IFRS 15 adoption
29 Nov 2023
The European Financial Reporting Advisory Group (EFRAG) has published the results of academic study on the effects of the adoption of IFRS 15 'Revenue from Contracts with Customers' on preparers and users of financial statements.
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A4S publishes third edition of introduction to sustainability-related reporting
28 Nov 2023
Accounting for Sustainability (A4S) has published the third edition of 'Navigating the Reporting Landscape'.
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Report of the October 2023 Emerging Economies Group meeting
27 Nov 2023
The 26th meeting of the IASB's Emerging Economies Group (EEG) was held on 30–31 October 2023. The IASB has published a full report of the meeting.
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Summary of the October 2023 CMAC meeting
27 Nov 2023
Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 19 October 2023. Notes from the meeting have now been released.
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Climate-related matters in financial statements
23 Nov 2023
The New Zealand External Reporting Board (XRB) has published staff guidance on climate-related matters in financial statements.
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Agenda for the November 2023 Consultative Group for Rate Regulation meeting
22 Nov 2023
The Consultative Group for Rate Regulation will hold its next meeting virtually on 30 November 2023.
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European Union formally adopts amendments to IFRS 16
21 Nov 2023
The European Union has published a Commission Regulation endorsing 'Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)' issued by the IASB in September 2022.
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Report on the autumn 2023 IFASS meeting
21 Nov 2023
A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.
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Second EBA report on IFRS 9 implementation
19 Nov 2023
The European Banking Authority (EBA) has published a second report summarising the findings arising from the monitoring activities on the IFRS 9 implementation by EU institutions.
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Agenda for the November 2023 Islamic Finance Consultative Group meeting
16 Nov 2023
An agenda has been released for the meeting of the Islamic Finance Consultative Group that will be held virtually and in London on 23 November 2023.
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Heads Up — FASB Issues Final Standard on Improvements to Reportable Segment Disclosures
published 30 Nov 2023
This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2023-07, Improvements to Reportable Segment Disclosures. The ASU’s amendments “improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses.”
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On the Radar — Impairments and disposals of long-lived assets and discontinued operations (November 2023)
published 27 Nov 2023
Long-lived assets within the scope of ASC 360-10 are accounted for and tested for impairment differently depending on the entity’s intent regarding the assets. Long-lived assets that the entity intends to hold and use in its operations, including long-lived assets that the entity intends to abandon, distribute to owners, or exchange in a nonmonetary transaction accounted for at carrying amount, are tested for impairment when a triggering event occurs by performing a two-step recoverability test. By contrast, long-lived assets that the entity intends to sell are tested for impairment upon classification as held for sale and in each subsequent reporting period by comparing their carrying amount with their fair value less costs to sell.
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Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations (2023)
published 27 Nov 2023
This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20. ASC 360-10 specifies the accounting and reporting for long-lived assets that are being held and used by an entity and for long-lived assets that the entity intends to sell or otherwise dispose of. ASC 205-20 further provides guidance on when a component, or group of components, of an entity that is classified as held for sale or disposed of must be reported as a discontinued operation. The 2023 edition of this publication includes updated and expanded guidance on these topics.
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Deloitte comment letter on the proposed annual improvements (volume 11)
published 26 Nov 2023
We agree with the amendments proposed in the exposure draft and have no specific comments.
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On the Radar — Hedge accounting
published 22 Nov 2023
This publication briefly summarizes key financial reporting considerations related to the accounting for hedges, including the type of hedge and the qualifications for applying hedge accounting.
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Roadmap: Hedge accounting
published 22 Nov 2023
This Roadmap provides an overview of the FASB’s authoritative guidance on hedge accounting in ASC 815 as well as our insights into and interpretations of how to apply that guidance in practice. Hedge accounting guidance is a complex aspect of GAAP developed over many years in response to constituents’ requests for interpretive guidance. This Roadmap is intended to help entities navigate that accounting and financial reporting guidance, reduce complexity, and arrive at appropriate accounting conclusions.
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iGAAP in Focus — EU Taxonomy — corporate reporting requirements
published 21 Nov 2023
This iGAAP in Focus discusses the EU Taxonomy Regulation and Article 8 disclosure requirements.
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EFRAG endorsement status report 21 November 2023
published 21 Nov 2023
The endorsement status report has been updated to reflect that European Union has endorsed the amendments to IAS 16 'Lease Liability in a Sale and Leaseback'.
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Report on the H2 2023 IFASS meeting
published 21 Nov 2023
Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.
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Deloitte comment letter on tentative agenda decision on payments contingent on continued employment during handover periods
published 16 Nov 2023
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision.
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IFRS Interpretations Committee meeting — 28–29 November 2023
Start: 28 Nov 2023 - End: 29 Nov 2023
The IFRS Interpretations Committee will meet on 28–29 November 2023.
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ISSB Meeting — 15–16 November 2023
Start: 15 Nov 2023 - End: 16 Nov 2023
The ISSB met in Beijing on 15–16 November 2023.
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IASB Meeting — 13–15 November 2023
Start: 13 Nov 2023 - End: 15 Nov 2023
The IASB met in its offices in London on 13–15 November 2023.
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IASB Meeting — 25–26 October 2023
Start: 25 Oct 2023 - End: 26 Oct 2023
The IASB met in its offices in London on 25–26 October 2023.
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ISSB Meeting — 24–25 October 2023
Start: 24 Oct 2023 - End: 25 Oct 2023
The ISSB met virtually on 24–25 October 2023.
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IASB-FASB Joint Education Meeting — 29 September 2023
Start: 29 Sep 2023 - End: 29 Sep 2023
The IASB and FASB met in London on 29 September 2023.
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IASB Meeting — 19–21 September 2023
Start: 19 Sep 2023 - End: 21 Sep 2023
The IASB met in its offices in London on 19-21 September 2023.
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ISSB Meeting — 14 September 2023
Start: 14 Sep 2023 - End: 14 Sep 2023
The ISSB met on 14 September 2023 in Montreal, Canada.
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IFRS Interpretations Committee meeting — 12 September 2023
Start: 12 Sep 2023 - End: 12 Sep 2023
The IFRS Interpretations Committee met on 12 September 2023.
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IASB Meeting — 23 August 2023 (Supplementary)
Start: 23 Aug 2023 - End: 23 Aug 2023
The IASB held a supplementary meeting in a hybrid format on 23 August 2023.