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November 2019

IASB Chair discusses the future of financial reporting

Nov 05, 2019

On November 5, 2019, the International Accounting Standards Board (IASB) released a speech given at the Eumedion Annual Symposium, where IASB Chair Hans Hoogervorst discussed the Board’s projects on primary financial statements (PFS), management commentary and sustainability reporting.

Mr. Hooger­vorst began with an overview of the PFS project and provided comments related to new subtotals, such as operating profit and profit before financing and tax. He also discussed the need for greater transparency and discipline in the use of non-GAAP measures.

Next, Mr. Hooger­vorst commented on man­age­ment com­men­tary to provide broader financial in­for­ma­tion, such as the impact of in­tan­gi­ble assets. In addition, the project will revise the Practice Statement to accommodate the increase in interest in sustainability reporting.

Lastly, he agreed with the Eumedion’s green paper, Towards a global standard-setter for non-financial reporting, which called for the need for consolidation in non-financial reporting.

Review the tran­script of his speech on the IASB’s website.

Recordings from the sixth IASB Research Forum

Nov 04, 2019

On November 4, 2019, the International Accounting Standards Board (IASB) hosted its sixth Research Forum on October 28–29, 2019 in Short Hills, New Jersey, with the Journal of International Accounting Research (JIAR). The IASB released audio recordings and slides from the presentations given at the forum.

The meeting saw the pre­sen­ta­tion on four academic papers, responses by academics and stan­dard-set­ters as well as a general dis­cus­sion with the audience. In addition, two case studies were discussed during breakout sessions.

Review the press release and access the slides and audio recordings on the IASB’s website.

Summary of the October 2019 CMAC meeting

Nov 06, 2019

On November 6, 2019, the International Accounting Standards Board (IASB) released a summary of the Capital Markets Advisory Committee (CMAC) meeting, which was held in London on October 10, 2019.

The topics discussed at the meeting included:

  • Rate regulated activities.
  • Post-implementation review of IFRS 10, IFRS 11, and IFRS 12.
  • Agenda consultation.

The next meeting will be held on March 26, 2020.

Review the press releasemeeting page and meeting summary on the IASB's website.

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