At its meeting on April 25-27, 2023, the IASB continued its discussions on the remaining topics in the project plan. The IASB discussed whether to amend the scope of IFRS 7 Financial Instruments: Disclosures to reflect the fact that the proposed disclosure requirements would apply to an entity’s issued equity instruments. The IASB tentatively decided (i) to expand the objective of IFRS 7 to enable users of financial statements to understand how an entity is financed and what its current and potential ownership structures are; and (ii) to delete the reference to derivatives that meet the definition of an equity instrument in IAS 32 Financial Instruments: Presentation from paragraph 3(a) of IFRS 7, which excludes such derivatives from the scope of the latter Standard. The IASB then discussed whether its proposed disclosure requirements on terms and conditions needed any further refinement, and whether to require other disclosures on terms and conditions. The IASB also considered whether to develop further disclosure requirements to complement the proposed clarifications to the classification and presentation requirements in IAS 32. The IASB discussed proposed transition requirements for an entity that applies the proposed amendments to IAS 32, IFRS 7 and IAS 1.

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