At its meeting on September 20-22, 2022, the IASB met to discuss its Extractive Activities research project. The scope and objective of the project is to explore: developing requirements or guidance to improve an entity’s disclosures about its exploration and evaluation expenditure and activities in order to provide more useful information to users of financial statements; and removing the temporary status of IFRS 6. The IASB discussed: (i) findings from the first phase of the project; (ii) disclosure suggestions; and (iii) the plan for further research on developing requirements or guidance to improve the disclosure objectives and requirements of IFRS 6. The IASB plans to engage with a limited number of stakeholders, including users, preparers, regulators and auditors to explore further the suggestions discussed at this meeting.

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