The statement notes that IOSCO Principle 16 states that issuers should provide full, accurate, and timely disclosure of financial results, risk, and other information which is material to investors’ decisions. In this context, the IOSCO statement emphasizes that ESG matters, though sometimes characterized as non-financial, may have a material short-term and long-term impact on the business operations of the issuers as well as on risks and returns for investors and their investment and voting decisions. Therefore, statement notes:

IOSCO encourages issuers to consider the materiality of ESG matters to their business and to assess risks and opportunities in light of their business strategy and risk assessment methodology. When ESG matters are considered to be material, issuers should disclose the impact or potential impact on their financial performance and value creation. In doing so, issuers also are encouraged to give insight into the governance and oversight of ESG-related material risks.

Review the full statement on the IOSCO's website.

The amendments to IPSAS 36 converge IPSASs with the narrow-scope amendments to IAS 28, Investments in Associates and Joint Ventures made by the IASB in Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28) issued October 2017.

The amendments to IPSAS 41 converge IPSASs with the narrow-scope amendments to IFRS 9, Financial Instruments made by the IASB in Prepayment Features with Negative Compensation (Amendments to IFRS 9) also issued October 2017.

Review the amendments on the IPSASB's website.

The topics covered during the meeting were the following (numbers in brackets are references to the corresponding paragraphs of the summary):

• Financial instruments with characteristics of equity (1–25): ASAF members provided comments on the Discussion Paper Financial Instruments with Characteristics of Equity based on the outreach in their jurisdictions.
• Business combinations under common control (BCUCC) (26–32): ASAF members discussed whether a current value measurement approach based on the acquisition method set out in IFRS 3 Business Combinations should be applied to all or some BCUCC that affect non-controlling shareholders in the receiving entity and if not, how the distinction should be made on when to use a current value measurement approach.
• Pension benefits that depend on asset returns (33–43): ASAF members discussed whether the measurement approach (described in Agenda Paper 7) would be helpful in solving the measurement inconsistency described in that paper when applying IAS 19 Employee Benefits to pension benefits that depend on asset returns.
• IFRS 17 Insurance Contracts (44–61): ASAF members provided advice on six topics in IFRS 17 Insurance Contracts that the Board is considering for possible amendments to the Standard.
• Management commentary (62–76):ASAF members were updated on the Board's tentative decision on the objective of management commentary as part of the update to IFRS Practice Statement 1 Management Commentary.
• Goodwill and impairment (77–87): ASAF members discussed (1) disclosure objective and requirements and (2) amortisation of goodwill, including whether members believe it is feasible to estimate the useful life of goodwill.
• Update and agenda planning (88–91): ASAF members discussed the proposed agenda for the April 2019 ASAF meeting and considered future discussions on (1) how the ANC has established an accounting framework for crypto-currencies and (2) EFRAG's forthcoming discussion paper Hybrid Pension Schemes.
• Better communication – primary financial statements (92–108):ASAF members discussed the Board's tentative decisions made to date in the primary financial statements project.

A full summary of the meeting is available on the IASB's website.

Below is an analysis of all changes that were made to the work plan since our last analysis on December 17, 2018.

Standard-setting projects

• No changes

Maintenance projects

• Accounting Policies and Accounting Estimates — The IASB will decide on the project direction in April 2019 (formerly Q2 2019).
• Amendments to IFRS 17, Insurance Contracts — An exposure draft is is expected in Q2 2019.
• Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction — An Exposure Draft is expected in Q2 2019 (formerly H1 2019).
• Fees in the "10 per cent" Test for Derecognition — An exposure draft is expected in Q2 2019 (formerly H1 2019).
• IBOR Reform and its Effects on Financial Reporting — Formerly listed as a research project, an exposure draft is expected in Q2 2019 (formerly H1 2019). — NB This update actually reflects a December 2018 decision of the Board.
• Lease Incentives — An exposure draft is expected in Q2 2019 (formerly H1 2019).
• Onerous Contracts — Cost of Fulfilling a Contract — Exposure draft feedback is expected in Q2 2019 (formerly H1 2019).
• Subsidiary as a First-time Adopter — An exposure draft is expected in Q2 2019 (formerly H1 2019).
• Taxation in Fair Value Measurements — An exposure draft is expected in Q2 2019 (formerly H1 2019). 
• Updating a Reference to the Conceptual Framework — An exposure draft is expected in Q2 2019 (formerly H1 2019). 

Research projects

• Business Combinations under Common Control — A discussion paper is expected in H1 2020 (formerly just listed as 2020).
• Goodwill and Impairment — The next milestone was changed to a discussion paper, instead of the previously-listed "discussion paper or exposure draft."
• Disclosure Initiative — Principles of Disclosure — A project summary is expected in March 2019 (formerly listed as Q1 2019).
• Financial Instruments with Characteristics of Equity — Discussion paper feedback is expected in March 2019 (formerly Q1 2019).
• Provisions — New project added to the work plan; the IASB plans to review research in the second half of 2019. — NB This update actually reflects a December 2018 decision of the Board.

Other projects

• IFRS Taxonomy Update — 2018 General Improvements — A date of February 2019 was added for the proposed update feedback.
• IFRS Taxonomy Update — Common Practice (IFRS 13) — The next milestone was changed from "analyse feedback" to "final update" with an expected date of March 2019. — NB This update seems somewhat premature since the feedback received will not by anlysed by the ITCG until its January 31 meeting.
• Revisions to the Preface to IFRS Standards — Project removed from the work plan. — NB This changed entry actually reflects an October 2018 decision of the Board.

The revised IASB work plan is available on the Board's website.

The updates in comparison to the 2017 version of the document include:

• a new section that provides more detail on how to communicate company-specific information;
• new examples illustrating how to find the correct element when tagging the primary financial statements; and
• other clarifications and improvements.

Review the press release and updated guide on the IASB's website.