At the meeting, the AcSB and the ASBJ discussed specific technical topics in which both Boards have interest, including financial instruments, disclosure initiatives, and responding to changes in the market environment, including the interest of stakeholders. The two standard setters plan to continue to exchange views.

Review the press release on the ASBJ website.

Review the letter on the IASB's website.

The IPTF's discussion document for the November 6, 2021 meeting is now available and states the following view of the Task Force:

Countries with three-year cumulative inflation rates exceeding 100%:

• Argentina
• Iran
• Lebanon
• South Sudan
• Sudan
• Venezuela
• Zimbabwe

Countries with projected three-year cumulative inflation rates exceeding 100%:

• Suriname
• Yemen

Countries where the three-year cumulative inflation rates had exceeded 100% in recent years:

There are no countries in this category for this period.

Countries with recent three-year cumulative inflation rates exceeding 100% after a spike in inflation in a discrete period:

There are no countries in this category for this period.

Countries with projected three-year cumulative inflation rates between 70% and 100% or with a significant (25% or more) increase in inflation during the current period

• Angola
• Haiti

The IPTF also notes that there may be additional countries with three-year cumulative inflation rates exceeding 100% or that should be monitored which are not included in the analysis as the necessary data is not available. Examples cited are Afghanistan, Ethiopia, and Syria.

The full list, including exact numbers, detailed explanations of the calculation of the numbers, and observations of the Task Force is available on the CAQ website.

Specifically, the article discusses:

• Feedback received from stakeholders on why the Board was looking at extractive activities.
• Tentative board decisions reached on the scope and objective.
• Diversity in accounting policy.
• Challenges in applying certain accounting standards to extractive activities outside the scope of IFRS 6.
• Reserve and resource information.
• Upcoming research.

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

Ms. Lloyd currently serves as Vice-Chair of the International Accounting Standards Board (IASB) and Chair of the IFRS Interpretations Committee and will step down from these roles to take up her new position on 1 March 2022. Ms. Lloyd has been appointed for an initial four-year term. The press release notes that her appointment completes the current search for ISSB Vice-Chair(s). It also notes that the Trustees have begun the process of identifying successors for her current roles.

Ms. Guillot is the current Chief Executive Officer of the Value Reporting Foundation (VRF), which was formed through the merger of the Sustainability Accounting Standards Board (SASB) and the International Integrated Reporting Council (IIRC) in 2021. She has been appointed effective 1 February 2022. Ms. Guillot will provide strategic advice and counsel to the Chair of the ISSB with specific responsibilities for the consolidation of the VRF into the IFRS Foundation and the establishment of the ISSB. She will serve a two-year term, renewable for one year. A further Special Advisor to the ISSB Chair from the Asia-Oceania region is expected to be appointed who will focus on the ISSB’s engagement with developing and emerging economies, as well as with smaller companies.

The press release also highlights that the Trustees are progressing with their search for the remaining ISSB members, with potential candidates encouraged to submit their applications. Interviews for these roles are scheduled to begin in early February 2022.

Review the press release on the IFRS Foundation's website.

Review the Consultation Paper on the IRCSS' website.

Specifically, the changes relate to:

• establishing a clear due process for Accounting Guidelines;
• clarifying the process for when a Board member dissents on issuing a consultation paper, an Exposure Draft, a new standard or an amendment; and
• modifying the length of the comment period for Exposure Drafts.

Review the press release and manual on the AcSB's website.

The reopening of the comment period is intended to give respondents the opportunity to provide additional feedback in view of developments that have occurred since the proposal’s initial release.

Comments are due 30 days after the date of the proposed rule’s publication in the Federal Register.

Review the following information on the SEC’s website:

• Press release
• Fact sheet
• Announcement
• Proposed rule
• Statements by SEC Chair Gary Gensler and Commissioners Caroline A. Crenshaw, Allison H. Lee, and Hester M. Peirce

Below is an analysis of all changes made to the work plan since our last analysis on December 17, 2021.

Stan­dard-set­ting projects

• Man­age­ment Com­men­tary — Dis­cus­sion on the feedback from the exposure draft is expected in March 2022 (pre­vi­ously Q1 2022).

 Main­te­nance projects

• Lack of Ex­change­abil­ity (Amend­ments to IAS 21) — Decision on the direction of the project is expected in Q2 2022.
• Non-cur­rent Li­a­bil­i­ties with Con­venants (Amend­ments to IAS 1) — Dis­cus­sion on the feedback from the exposure draft is now expected in Q2 2022 (pre­vi­ously H1 2022).
• Pro­vi­sions — Targeted Im­prove­ments — Decision on the project’s direction is now expected in February 2022.
• Supplier Finance Arrange­ments — Feedback on the exposure draft is expected in Q2 2022 (pre­vi­ously H1 2022).

 Research projects

• Business Com­bi­na­tions under Common Control — The direction of the project phase is the current milestone; no expected date is given.
• Equity Method — Decision of the direction of the project is expected in March 2022 (pre­vi­ously Q1 2022).
• Post-im­ple­men­ta­tion Review of IFRS 10, IFRS 11 and IFRS 12 —Feedback statement is now expected in Q2 2022 (pre­vi­ously H1 2022).
• Post-im­ple­men­ta­tion Review of IFRS 9 — Clas­si­fi­ca­tion and Mea­sure­ment —Dis­cus­sion on the feedback to the request for in­for­ma­tion is now expected in March 2022 (pre­vi­ously H1 2022).

 Other projects

• IFRS Taxonomy Update — 2021 Tech­nol­ogy Update—IFRS Taxonomy Update is now expected in March 2022.
• IFRS Taxonomy Update — Initial Ap­pli­ca­tion of IFRS 17 and IFRS 9 — Com­par­a­tive In­for­ma­tion— IFRS Taxonomy Update is now expected in March 2022.
• Research Program — Project has been added to the work plan.

The above is a faithful com­par­i­son of the IASB work plan at January 28, 2022 and December 17, 2021.

For access to the current IASB work plan at any time, please click here.