The IASB met on October 25, 2023, to discuss the types of risk management activities for which the Dynamic Risk Management (DRM) model would be appropriate and provide useful information.

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The IASB met on October 25, 2023, to discuss whether to include guidance in the prospective Accounting Standard based on feedback from a survey on the direct (no direct) relationship concept and to redeliberate the proposals in the Exposure Draft Regulatory Assets and Regulatory Liabilities relating to the boundary of a regulatory agreement. The IASB tentatively decided to include in the prospective Accounting Standard guidance on how to account for regulatory returns on an asset not yet available for use that compensate for borrowing costs an entity has capitalized. The IASB also tentatively decided that the prospective Accounting Standard would retain the proposed guidance in the Exposure Draft on rights to renew or cancel a regulatory agreement, compensation for cancellation of a regulatory agreement and on reassessment of and changes to the boundary of a regulatory agreement. Finally, it tentatively decided to include the principles of IFRS 15 that relate to an entity’s right to payment for performance completed to date. An entity would use those principles to help it assess whether there exists an enforceable present right to receive, or an enforceable present obligation to pay, compensation on termination of a regulatory agreement for an amount comprising unrecovered regulatory assets and unfulfilled regulatory liabilities.

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The IASB met on October 25, 2023, to discuss sweep issues identified in drafting IFRS 18 Presentation and Disclosure in Financial Statements related to aggregation and disaggregation and other topics. The IASB tentatively decided to require an entity to present a line item for cost of sales separately from any other expenses classified by function in the statement of profit or loss only if the entity classifies operating expenses by function that include cost of sales. The IASB also tentatively decided to clarify that for the statement of financial position an entity uses the characteristics of duration and timing of recovery and settlement to classify assets and liabilities as either current or non-current and the characteristic of liquidity to classify assets and liabilities by order of liquidity the characteristics of nature and function to aggregate assets and liabilities into separate line items. Finally, it tentatively decided to provide no transitional relief from retrospective application of IFRS 18 for any earlier periods than the annual period immediately preceding the initial period of application.

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The IASB met on October 26, 2023, to discuss whether its tentative decisions on application questions for investments in associates apply to investments other than those in associates accounted for using the equity method. The IASB tentatively decided that its tentative decisions on application questions for investments in associates apply when a parent elects to use the equity method to account for its investments in subsidiaries in separate financial statements. The IASB also tentatively decided that its tentative decisions on application questions for investments in associates apply to investments in joint ventures.

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The IASB met on October 26, 2023, to discuss stakeholder feedback on the Exposure Draft Amendments to the Classification and Measurement of Financial Instruments, which proposes amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures.

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