At its meeting on July 18-21, 2022, the IASB met to discuss feedback on the requirements in IFRS 9 for: (i) modifications of financial assets and liabilities; and (ii) amortized cost measurement and the effective interest method. Based on its analysis and prioritization assessment, the IASB decided to add a standard-setting project to its research pipeline to clarify the requirements in IFRS 9 for modifications of financial assets and liabilities and applying the effective interest method. Any forthcoming standard-setting project will also consider the findings of the Post-implementation Review of IFRS 9—Impairment. The IASB will continue its discussions of the feedback received on the Post-implementation Review at a future meeting. 

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to discuss the proposed project plan for the Dynamic Risk Management project. In particular, the IASB discussed topics to consider further as part of its development of the DRM model and the order in which to consider the topics. The IASB was not asked to make any decisions. The IASB will begin deliberations on the topics identified in the project plan.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to discuss the accounting for financial instruments containing obligations for an entity to redeem its own equity instruments, including written put options on non-controlling interests. The IASB discussed problems that arise when entities apply paragraph 23 of IAS 32 Financial instruments: Presentation. The IASB also discussed possible clarifications it could develop to help resolve these problems. The IASB was not asked to make any decisions. The IASB will continue to discuss this topic at a future meeting.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to redeliberate the proposals in its Exposure Draft on total allowed compensation. In particular, the IASB discussed: (i) components of total allowed compensation; and (ii) regulatory returns on an asset not yet available for use. With respect to components of total allowed compensation, the IASB tentatively decided that in the Standard, the application guidance focus on: (a) helping entities to identify differences in timing instead of specifying the components of total allowed compensation; and (b) the most common differences in timing that could arise from various types of regulatory schemes. With respect to regulatory returns on an asset not yet available for use, the IASB tentatively decided that the Standard specify that when an entity has an enforceable present right to regulatory returns on an asset not yet available for use, those returns would form part of the total allowed compensation for goods or services supplied during the construction period of that asset. The Standard will provide guidance for entities to assess whether their rights to these regulatory returns are enforceable. The IASB will continue to redeliberate the project proposals.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to explore possible ways of taking the project forward in the light of the feedback on its Exposure Draft. The IASB was not asked to make any decisions. The IASB will decide the project’s direction.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to receive an update on the project. It was not asked to make any decisions. The IASB will discuss the project’s direction.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to discuss how to clarify the requirements in IFRS 9 for assessing a financial asset’s contractual cash flow characteristics. The IASB (i) discussed the concept of a basic lending arrangement, including contractual terms that could change the timing or amount of contractual cash flows; and (ii) discussed the characteristics of financial assets with non-recourse features and contractually linked instruments. The IASB was not asked to make any decisions. The IASB will continue to discuss potential clarifications to the requirements.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to discuss its Goodwill and Impairment project. The IASB continued its discussions on: (i) its preliminary views about improving the disclosure requirements for business combinations as described in the Discussion Paper; and (ii) possible ways forward to improve disclosure requirements for business combinations. In this meeting the IASB discussed: research and analysis on matters discussed in its April 2022 meeting about the possible ways forward to improve disclosure requirements for business combinations after comments made by IASB members at that meeting. The IASB was not asked to make any decisions. The IASB will make decisions about: (a) whether to continue developing proposals to require entities to disclose information about the subsequent performance of business combinations and to disclose quantitative information about expected synergies; (b) whether to retain the impairment-only model to account for goodwill, or to explore reintroducing amortization of goodwill; and (c) other topics within the scope of the project.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to redeliberate the proposals in its Exposure Draft relating to: (i) entities with specified main business activities; (ii) disclosures relating to operating expenses by nature; and (iii) unusual income and expenses. Following a discussion, the Board made a number of tentative conclusions with respect to items (i) and (ii). With respect to item (iii) the Board was not asked to make any decisions. The IASB will continue to redeliberate the project proposals at future meetings.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB met to discuss the feedback on its Exposure Draft. The Exposure Draft proposed amendments to the disclosure requirements in IAS 7 and in IFRS 7 to enable users of financial statements to assess the effects of such arrangements. The IASB was not asked to make any decisions. The IASB will consider the project’s direction.

Review the IASB Update and podcast on the Board's Web site.

At its meeting on July 18-21, 2022, the IASB discussed the amendments to IAS 1 that it has tentatively decided to make as part of this project. The IASB tentatively decided to require entities to apply the amendments for annual reporting periods beginning on or after January 1, 2024. The IASB decided that the amendments do not require re-exposure. No IASB member indicated an intention to dissent from issuing the amendments.  All 10 IASB members confirmed they were satisfied the IASB has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the process for balloting the amendments. The IASB expects to issue the amendments in the fourth quarter of 2022.

Review the IASB Update and podcast on the Board's Web site.