The new website follows a strict access to projects through the work plan. The work plan itself can be filtered by kind of project (research, standard-setting, maintenance) and by project name, project type and projects with documents that are open for comment. Under each project you can then filter for project stage, news, meeting notes, published documents etc.

Here is a list of links to the most frequently sought after sub pages on the IASB's website:

• Homepage (same address as before)
• IASB structure and bodies (overview with links)
• IASB consultative groups (overview with links)
• News
• Work plan (with access to all project information)
• List of issued standards (degree of access is determined by registration/subscription)
• Translations of standards

For historical information, the IASB has also set up an archive. However, that archived information will not be updated anymore and it is not clear how long the archive will remain available.

The IASB has currently set a 2014 cut-off date for its new website.

With the IASB moving to a completely restructured website, most of the links and bookmarks you have saved will be broken. We have replaced our links with links to the IASB archive for all historical information. However, on the both sites you might come across broken links.

Review the IASB press release and the 'getting started' page, which will give you more information about how to use and navigate the new site.

The IASB completed redeliberations of the May 2015 Exposure Drafts in March 2017 and expects to publish the revised Conceptual Framework in the second half of 2017.

Review the press release and the decision summary on the IASB's website.

The publication of the Practice Statement and the Exposure Draft, Definition of Materiality will be postponed until after the sweep issues have been discussed by the Board.

The Exposure Draft proposes minor amendments to IAS 1, Presentation of Financial Statements and IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors.

Review the press release on the IASB's website.

The AcSB stated that it is taking a phased approach to adding non-authoritative material issued by the IASB to the Handbook.

CPA Canada Standards and Guidance Collection is available to members on knotia.ca.

In this podcast, Sue provides an overview of implementation and maintenance activities discussed at the May Board meeting – including the IFRIC Interpretation on IAS 12, Income Taxes and an upcoming amendment to IAS 28, Investments in Associates and Joint Ventures. She also talks about the ongoing Post-implementation Review of IFRS 13, the fair value measurement Standard.

Darrel provides an overview of IFRS 17, which was issued in May, before Sue summarises some of the other activity during the month – including the activities during the Trustees meeting in Tokyo, Japan, and a new agreement the IFRS Foundation has signed with the World Bank.

Listen to the podcast on the IASB's website.

Content of IFRC 23

Scope

The interpretation is to be applied to the determination of taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12.

Issues and consensus

Whether tax treatments should be considered collectively

An entity is required to use judgement to determine whether each tax treatment should be considered independently or whether some tax treatments should be considered together. The decision should be based on which approach provides better predictions of the resolution of the uncertainty.

Assumptions for taxation authorities' examinations

An entity is to assume that a taxation authority with the right to examine any amounts reported to it will examine those amounts and will have full knowledge of all relevant information when doing so.

Determination of taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates

An entity has to consider whether it is probable that the relevant authority will accept each tax treatment, or group of tax treatments, that it used or plans to use in its income tax filing.

• If the entity concludes that it is probable that a particular tax treatment is accepted, the entity has to determine taxable profit (tax loss), tax bases, unused tax losses, unused tax credits or tax rates consistently with the tax treatment included in its income tax filings.
• If the entity concludes that it is not probable that a particular tax treatment is accepted, the entity has to use the most likely amount or the expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The decision should be based on which method provides better predictions of the resolution of the uncertainty.

Effect of changes in facts and circumstances

An entity has to reassess its judgments and estimates if facts and circumstances change.

Disclosures

The interpretation does not contain any new disclosure requirements. Instead it highlights existing disclosure requirements in IAS 1 and IAS 12.

Effective date and transition

An entity applies IFRIC 23 for annual reporting periods beginning on or after January 1, 2019. Earlier application is permitted.

The requirements are applied by recognizing the cumulative effect of initially applying them in retained earnings, or in other appropriate components of equity, at the start of the reporting period in which an entity first applies them, without adjusting comparative information. Full retrospective application is permitted, if an entity can do so without using hindsight.

Review the press release on the IASB's website.

Financial statement preparers told FASB that they had difficulties applying hedge accounting and that their risk management techniques are not aligned with the accounting under the current standard.

FASB Chairman Russell Golden said in a news release that the new standard will create better alignment between companies’ risk management activities and the accounting rules. The standard will better reflect the economic results of hedging in the financial statements and will simplify hedge accounting treatment.

After FASB approves the standard on the written ballot, it is expected to be issued in mid-August.

Review the press release on the Journal of Accountancy's website.

Regarding older content, it notes:

Because we store thousands of documents on our current server, we are migrating content to the new website in phases. Content yet to be migrated will remain in an archive of the current website, which will be available to access via archive.ifrs.org.

Review the press release on the IASB's website for the changes being made to its website.

The responses to ED/2017/3 seem to fall into three major categories:

• Those who believe that there never was an issue with IFRS 9;
• Those who believe that changes to IFRS 9 are needed, but the approach is wrong/might have unintended consequences; and
• Those who believe that changes to IFRS 9 might be warranted, but the timing is wrong.

The IASB is in the process of posting all responses to the exposure draft to its website.

Review the comment letters on the IASB's website.