Discussion points included:

• Structure of the IESBA Code
• Safeguards
• Part C of the IESBA Code
• Professional Skepticism

Review the highlights and the podcast on the IESBA's Web site.

To facilitate small, local financings by Alberta-based start-up businesses, the ASC adopted ASC Rule 45-517 in the summer of 2016. In response to the recently announced amendments to B.C. Instrument 45-535 Start-up Crowdfunding Registration and Prospectus Exemptions, the ASC has updated its Companion Policy 45-517 to clarify how cross-border financings into B.C. are possible and outline how ASC Rule 45-517 and B.C. Instrument 45-535 work together.

Review the press release on the ASC's website.

The working drafts address the following topics:

• Timing and classification of commissions in interline transactions (airlines)
• Changes in volume of mileage credits under a co-branded credit card arrangement (airlines)
• Reporting asset management arrangement revenue: gross versus net (asset management)
• Contract costs (construction)
• Loyalty co-branding arrangements (gaming)
• Accounting for racetrack fees (gaming)
• Risk sharing arrangements (health care)
• Revenue recognition of sales of oil and gas (oil and gas)
• Inventories (oil and gas)
• Joint operating agreements (oil and gas)
• Derivative commodity contracts (oil and gas)
• Disclosures (oil and gas)
• Determining the stand-alone selling price for commodities (power and utilities)
• Accounting for blend-and-extend contract modifications (power and utilities)
• Partial terminations (power and utilities)
• Timing of revenue recognition related to sales of electricity and capacity (power and utilities)
• Timing of revenue recognition related to sales of self-generated renewable energy credits (power and utilities)
• Treatment of contributions in aid of construction (power and utilities)
• Income statement presentation of alternative revenue programs (power and utilities)
• Wireless transactions within the indirect channel (telecommunications)

Comments on the working drafts are due by December 1, 2017. For more information, see the revenue recognition page on the AICPA’s Web site.

The 2017 IFRS taxonomy is identical to the one issued by the IFRS Foundation on March 9, 2017 and is consistent with IFRSs issued by the IASB as of January 1, 2017.

Review the press release on the SEC’s Web site.

This webcast is hosted by IASB Board member, Darrel Scott, and addresses four implementation questions raised by stakeholders.

Review the press release and webcast on the IASB’s website.

The research outlines the principal elements of the 28 Member States’ laws, and will provide insight on the direction non-financial reporting is headed in Europe. The November 22 event will address how the implementation of the Directive can positively contribute to the integration of sustainability factors into companies.

For more information and registration, visit the Accountancy Europe's website.

The Exposure Draft Standards for 79 industries in 11 major sectors will be open for feedback, from corporate professionals, market participants, and public interest and intermediary stakeholders.

The SASB’s Standards are for use by U.S. and foreign public companies in their disclosures to investors, such as in annual reports and filings with the U.S. Securities and Exchange Commission (SEC), including Forms 10-K, 20-F, 40-F, 10-Q, 8-K, as well as S-1 and S-3. The SASB Standards identify sustainability topics that are reasonably likely to constitute material information for a company within a particular industry.

Review an article and the Exposure Draft on the SASB's website.

Topics discussed during the investor podcast include the following:

• Overview of the new revenue guidance
• Loyalty points
• Ancillary services and change fees
• Breakage for unused tickets
• Transition to the new guidance

View the podcast on the FASB’s YouTube channel.

He spoke exclusively to Dimensions about the SEC's commitment to XBRL, examples of how XBRL is proving beneficial to the SEC, data quality concerns and more.

Review the speech on the Merrill Corporation's website.

The report addresses some of the key financial reporting issues the UK will face post-Brexit. It also offers 16 recommendations aimed at policymakers and their constituents in response to some of the principal questions that have been raised on the subject. These questions include:

• What will Brexit mean for UK financial reporting?
• Should the scope of the current regulatory framework be revisited?
• How can the UK continue to be a major player in global standard-setting?

The report also examines three options available to the UK in its expected post-Brexit position as a country adhering to IFRS, but sitting outside EU jurisdiction:

• EU-adopted IFRS continue to be applied by UK listed companies and the UK continues to participate in EFRAG decision making.
• UK listed companies are required to use IFRS as issued by IASB, without any mechanism for rejecting new standards.
• The UK establishes some form of national endorsement mechanism.

Review the full report on the ICAEW's website.