At its meeting on May 22-24, 2023, the IASB discussed its forthcoming Request for Information Post-implementation Review of IFRS 15 Revenue from Contracts with Customers. It approved the publication of the Request for Information for a public 120-day comment period.

Review the Executive Summary on the AcSB's Web site.

At its meeting on May 22-24, 2023, the IASB participated to an education session on the IFRS Foundation staff analysis of the similarities and differences between proposals in the Exposure Draft Management Commentary, published in May 2021, and the Integrated Reporting Framework, revised in January 2021. The session also included feedback on that analysis and on the approach to further alignment between these documents from the IFRS Advisory Council and the Integrated Reporting and Connectivity Council in April 2023. The IASB was not asked to make any decisions.

Review the Executive Summary on the AcSB's Web site.

At its meeting on May 22-24, 2023, the IASB to redeliberate the proposals in the Exposure Draft General Presentation and Disclosures on associates and joint ventures accounted for using the equity method and issues relating to management performance measures and IFRS 8 Operating Segments. The IASB reconfirmed its tentative decision to require all entities to classify, in the investing category in the statement of profit or loss, income and expenses from associates and joint ventures accounted for using the equity method. The IASB tentatively decided to provide transition requirements that will permit an entity to elect to measure investments in associates or joint ventures at fair value through profit or loss in accordance with IFRS 9 Financial Instruments when the investment is held by, or is held through, an entity that is a venture capital organisation, a mutual fund, unit trust and similar entities including investment-linked insurance funds (see paragraph 18 of IAS 28 Investments in Associates and Joint Ventures). The IASB tentatively decided to withdraw the new paragraph 38A of IAS 7 Statement of Cash Flows proposed in the Exposure Draft. As a result, an entity would be required to classify in a single category dividends received from associates and joint ventures accounted for using the equity method, applying the requirements applicable to the entity for other dividends received.

Review the Executive Summary on the AcSB's Web site.

At its meeting on May 22-24, 2023, the IASB continued its discussions on the Dynamic Risk Management (DRM) model, with a set of illustrative examples intended to demonstrate the designation and application of the DRM model.

Review the Executive Summary on the AcSB's Web site.

At its meeting on May 22-24, 2023, the IASB tentatively decided to propose consequential amendments to be made to the IFRS Accounting Standard Subsidiaries without Public Accountability after it has been issued. The amendments would add to the Standard disclosure requirements. The IASB also decided to set a comment period of 120 days for the exposure draft.

Review the Executive Summary on the AcSB's Web site.

At its meeting on May 22-24, 2023, the IASB received an update on the status of the project, including the expected timing for completing redeliberations and issuing the prospective Standard and redeliberated the proposals in its Exposure Draft relating to the timing of initial recognition of regulatory assets and regulatory liabilities. The IASB tentatively decided that the prospective Standard would retain the proposal to require recognition of all regulatory assets and all regulatory liabilities existing at the end of the reporting period and the proposal to treat any regulatory assets or regulatory liabilities arising from regulated rates denominated in a foreign currency as monetary items when applying IAS 21 The Effects of Changes in Foreign Exchange Rates.

Review the Executive Summary on the AcSB's Web site.