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  • Pre-meeting summaries for the September 2021 IASB meeting

    17 Sep 2021

    The IASB is meeting on Monday 20, Tuesday 21, Thursday 23 and Friday 24 September 2021. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. We summarised 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.

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  • IFAC calls on G20 leaders to focus on sustainability reporting

    16 Sep 2021

    The International Federation of Accountants (IFAC) has released 'Four themes, two actions, one goal: G20 Call to Action 2021' urging G20 leaders to continue their commitment to sustainability, inclusion, prosperity, and global collaboration.

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  • IVSC perspectives paper on intangible assets

    15 Sep 2021

    The International Valuation Standards Council (IVSC) has published a perspectives paper 'Time to get Tangible about Intangible Assets' that notes that despite the importance of intangible assets to the capital markets, only a small percentage are recognised on balance sheets.

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  • September 2021 IASB meeting agenda posted

    10 Sep 2021

    The IASB has posted the agenda for its next meeting, which will be held via video conference on 20–24 September 2021. There are seven topics on the agenda.

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  • IFAC calls on stakeholders to prepare now for global sustainability reporting standards

    10 Sep 2021

    The International Federation of Accountants (IFAC) published a framework for implementing global sustainability standards at the local level. It focuses on the May 2021 'building blocks approach'. IFAC believes that jurisdictions must begin examining how global standards that the envisioned International Sustainability Standards Board (ISSB) would develop can fit together with sustainability-related reporting requirements set at the jurisdictional level.

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  • IFRS on Point — August 2021

    published 03 Sep 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.

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  • Deloitte comment letter on the IASB's discussion paper on business combinations under common control

    published 31 Aug 2021

    We generally agree with the Board’s preliminary views as expressed in the discussion paper. In particular, we agree that different methods should be applied depending on the characteristics of the receiving entity. We agree that when the receiving entity does not have non-controlling shareholders, use of a book-value method is justified by cost-benefit considerations. However, we do not agree that the receiving entity should be required to use the transferred entity’s book values. We also agree that the acquisition method is likely to provide more relevant information to investors that must rely on general purpose financial statements of the receiving entity to obtain the information they require. Accordingly, we believe that the application of the acquisition method should be required more broadly than what is proposed in the discussion paper.

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  • Deloitte comment letter on the IASB's proposal regarding the lack of exchangeability

    published 31 Aug 2021

    We acknowledge that the use of an official exchange rate may not produce meaningful results when this rate is not available to the entity. However, we do not believe that attempting to estimate the exchange rate that would have been available if the currency had been exchangeable would produce meaningful results either. Accordingly, we believe that the Board should seek a solution that gives precedence to comparability.

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  • EFRAG endorsement status report 31 August 2021

    published 31 Aug 2021

    The endorsement status report has been updated to reflect that the European Union has formally adopted the pronouncement 'Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16)' published by the IASB in March 2021.

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  • On the Radar — SEC reporting considerations for guarantees and collateralizations

    published 25 Aug 2021

    SEC registrants may issue a variety of debt or debt-like securities to finance their operations. In certain cases, they may offer credit enhancement arrangements under which subsidiaries of the registrant guarantee the debt or the registrants pledge the stock of their affiliates as collateral. In addition, for various reasons, a subsidiary of the registrant (rather than the registrant) may issue debt or debt-like securities. While these structures or credit enhancement arrangements may be beneficial from a cost-of-capital perspective, registrants should consider the SEC reporting implications.

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  • Roadmap: SEC Reporting Considerations for Guarantees and Collateralizations (August 2021)

    published 25 Aug 2021

    This Roadmap is intended to help readers navigate some of the questions that may arise in the application of the disclosure requirements related to certain registered securities under SEC Regulation S-X, Rules 3-10, 3-16, 13-01, and 13-02. The 2021 edition includes expanded guidance as well as On the Radar, a new section that briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.

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