IAS Plus

CMAC call for members

18 Jun 2019

The IASB's Capital Markets Advisory Committee (CMAC) is currently seeking applications for membership. New candidates would join the CMAC for a three-year term beginning 1 January 2020, renewable once for an additional three-year term.

We comment on the IASB’s proposal on interest rate benchmark reform

17 Jun 2019

We have responded to the IASB’s exposure draft, ‘Interest Rate Benchmark Reform — Proposed amendments to IFRS 9 and IAS 39’.

EFRAG draft comment letter on proposed amendments to the IFRS Foundation Due Process Handbook

14 Jun 2019

The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ‘Proposed amendments to the IFRS Foundation Due Process Handbook’.

IFRS Interpretations Committee holds June 2019 meeting

14 Jun 2019

The IFRS Interpretations Committee met in London on 11–12 June 2019 to discuss twelve issues, including eight new interpretation requests. We have posted Deloitte observer notes for the technical issues discussed during this meeting.

EFRAG questionnaire on hedge accounting and IFRS 17

14 Jun 2019

European insurers that apply IFRSs are invited to complete a questionnaire on hedge accounting under IFRS 9/IAS 39.

Pre-meeting summaries for the June IASB meeting

14 Jun 2019

The IASB will meet in London on 17–19 June 2019 to discuss seven topics. We have posted our pre-meeting summaries for the meeting 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.

Agenda for the June 2019 ITCG meeting

12 Jun 2019

The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be held by conference call on 24 June 2019.

Summary report on the EC consultation on updating the non-binding guidelines on non-financial reporting

12 Jun 2019

The European Commission (EC) has published a report summarising the responses to the draft supplement to its non-binding guidelines on non-financial reporting with specific reference to climate-related information.

New Deloitte climate change website

12 Jun 2019

Deloitte, in collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW), has launched a dedicated climate change website and video learning programme.

Report from the March 2019 Emerging Economies Group meeting

10 Jun 2019

The 17th meeting of the IASB's Emerging Economies Group (EEG) was held in Buenos Aires, Argentina on 25–27 March 2019. The IASB has published a full report from the meeting.

Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform

published 17 Jun 2019

We support the IASB’s response in proposing amendments to both IFRS 9 and IAS 39 that deal with the immediate need of addressing the effect of the uncertainty arising from changes in benchmark interest rates on the “highly probable” requirement for cash flow hedges and the designated risk for cash flow and fair value hedges and suggest the IASB work on finalizing these amendments and begin the work on its second phase of amendments concurrently.

EITF Snapshot — June 2019

published 14 Jun 2019

This issue summarizes the topics discussed and conclusions reached at the June 13, 2019, meeting of the Emerging Issues Task Force.

IFRS on Point — May 2019

published 12 Jun 2019

IFRS on Point, published at the beginning of each month, highlights critical IFRS-related financial reporting developments.

Heads Up — FASB extends certain private-company accounting alternatives to not-for-profit entities

published 12 Jun 2019

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2019-06, "Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities." The ASU permits not-for-profit entities to elect alternative approaches to account for goodwill and certain identifiable intangible assets acquired in a business combination.

IFRS in Focus — IASB proposes to update references to the Conceptual Framework in IFRS 3

published 03 Jun 2019

This IFRS in Focus newsletter explains the recently proposed amendments to IFRS 3 'Business Combinations' that would update an outdated reference in IFRS 3 without significantly changing the requirements of the standard.

Insurance webcast 73 — Final sweep issues approved and comment period set

published 30 May 2019

Provides highlights of the IASB meeting held on 15 May 2019, an analysis of the IASB discussion and decisions reached, as well as additional observations from the TRG meeting held on 4 April 2019.

Heads Up — FASB proposes simplifications to accounting for income taxes

published 29 May 2019

This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update Income Taxes (Topic 740), "Simplifying the Accounting for Income Taxes." The amendments in the proposed ASU are intended to reduce the cost and complexity of applying ASC 740 and were submitted by stakeholders in connection with the Board’s initiative to reduce complexity in accounting standards.

A Roadmap to the Preparation of the Statement of Cash Flows (2019)

published 29 May 2019

This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance on the statement of cash flows, primarily that in ASC 230, "Statement of Cash Flows."

Accounting Spotlight — Revenue recognition — Evaluating whether an entity is acting as a principal or as an agent

published 28 May 2019

This Accounting Spotlight discusses the key principal-versus-agent considerations under the FASB’s new revenue standard (the guidance in ASU 2014-09, "Revenue From Contracts With Customers (Topic 606)," as amended) that an entity must evaluate to determine whether it is a principal or an agent in a transaction. The changes result from the standard’s shift from a risks-and-rewards model to a control model.

A Roadmap to Accounting for Noncontrolling Interests (2019)

published 25 May 2019

This Roadmap provides Deloitte’s insights into and interpretations of the guidance on noncontrolling interests, primarily that in ASC 810-10 and ASC 480-10-S99.

IASB Meeting — 17–19 June 2019

Start: 17 Jun 2019 - End: 19 Jun 2019

The IASB will meet in London on 17–19 June 2019 to discuss seven topics.

IFRS Interpretations Committee meeting — 11-12 June 2019

Start: 11 Jun 2019 - End: 12 Jun 2019

The IFRS Interpretations Committee met on Tuesday 11 and Wednesday 12 June 2019.

IASB Meeting — 14–16 May 2019

Start: 14 May 2019 - End: 16 May 2019

The IASB met in London on 14–16 May 2019 to discuss nine topics.

IASB Meeting — 9–11 April 2019

Start: 09 Apr 2019 - End: 11 Apr 2019

The IASB met in London on 9–11 April 2019.

IASB Meeting — 12–14 March 2019

Start: 12 Mar 2019 - End: 14 Mar 2019

The IASB met in London on 12–14 March 2019.

IFRS Interpretations Committee meeting — 5-6 March 2019

Start: 05 Mar 2019 - End: 06 Mar 2019

The IFRS Interpretations Committee met on Tuesday 5 and Wednesday 6 March 2019 to discuss eleven issues, including three new interpretation requests.

IASB Meeting — 7-8 February 2019

Start: 07 Feb 2019 - End: 08 Feb 2019

The IASB met in London on 7-8 February 2019.

IASB Meeting — 23 January 2019

Start: 23 Jan 2019 - End: 23 Jan 2019

The IASB met in London on 23 January 2019.

IFRS Interpretations Committee meeting — 16 January 2019

Start: 16 Jan 2019 - End: 16 Jan 2019

The IFRS Interpretations Committee met by video conference call on 16 January 2019 to discuss four issues, all of them agenda decisions to finalise.