At its meeting on October 18-20, 2022, the IASB met to discuss feedback on the following aspects of its post-implementation review of IFRS 9: (i) Equity instruments and other comprehensive income; (ii) Business model assessment; and (iii Exploring possible narrow-scope amendments for electronic cash transfers.  The IASB will continue its discussions on the post-implementation review at a future meeting. 

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At its meeting on October 18-20, 2022, the IASB met to redeliberate the proposals in its Exposure Draft relating to: (i) the proposed definition of allowable expense and the treatment of allowable expenses based on benchmarks; and (ii) accounting for regulatory assets and regulatory liabilities arising from differences between the regulatory recovery period and the assets’ useful lives, The IASB made a number of tentative conclusions in this regard. The IASB also discussed advice from the Consultative Group for Rate Regulation on how the IASB might respond to feedback on these proposals. The IASB will continue to redeliberate the project proposals at a future meeting.

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At its meeting on October 18-20, 2022, the IASB met to decide what actions to take on the project based on the feedback on the Exposure Draft. The Board decided (i) to use the methods proposed in the Exposure Draft for developing disclosure requirements; (iii) to use a ‘middle-ground’ approach to drafting disclosure requirements; and (iii) to document the methods for developing disclosure requirements and the approach to drafting them (Guidance for the Board) and publish the document on the IFRS Foundation website. The IASB also decided not to proceed with any further work on the disclosure requirements in IFRS 13, Fair Value Measurement, and IAS 19, Employee Benefits. The IASB will publish the Guidance for the Board and a Project Summary.

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At its meeting on October 18-20, 2022, the IASB met to review the progress of its Equity Method research project. The IASB decided to retain the project’s objective and approach.

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At its meeting on October 18-20, 2022, the IASB met to discuss proposed amendments to IFRS 7 and IFRS 9. The proposed amendments to IFRS 7 add disclosure requirements to complement the clarifying amendments the IASB tentatively decided to make to the requirements in IFRS 9 in September 2022 for assessing the contractual cash flow characteristics of financial assets. The IASB made a number of tentative conclusions with respect to the proposed amendments to IFRS 7 and IFRS 9.  The IASB will decide whether to begin the balloting process for the Exposure Draft planned to be issued in the first half of 2023.

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At its meeting on October 18-20, 2022, the IASB met to discuss aspects of its preliminary views on the subsequent accounting for goodwill. In particular, it discussed whether to retain the impairment-only model, which was the IASB’s preliminary view, or to explore reintroducing amortization of goodwill. The IASB was not asked to make any decisions. In the final quarter of 2022 the IASB will be asked to decide whether to retain the impairment-only model. At future meetings the IASB will be asked to make decisions about: (i) whether to move the project from the research phase to the standard-setting phase; (ii) aspects of the disclosure requirements for business combinations; and (iii) other topics within the scope of the project.

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