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Summary of the October 2020 ASAF meeting now available

  • IFRS - IASB Image

Nov 03, 2020

On November 3, 2020, the International Accounting Standards Board (IASB) staff published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held via remote participation on October 2, 2020.

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

  • Goodwill and impairment (1–9): The ASAF discussed the initial feedback on the discussion paper from their stakeholders, and how that feedback compared to what the Board has heard so far. In addition, the ASAF members outlined their plans for outreach and fieldwork to stimulate feedback to the discussion paper.
  • Business combinations under common control (10–15): The ASAF was given an update on the outreach plans for the forthcoming discussion paper. The ASAF members provided feedback on the proposed focus in the outreach, stakeholder events in their jurisdictions, and on how to facilitate effective stakeholder engagement.
  • Conceptual Framework for Financial Reporting (16–19): The FASB provided an overview of its proposed Chapter 4 Elements of Financial Statements of FASB Concepts Statement No. 8 Conceptual Framework for Financial Reporting.
  • Update and agenda planning (20–23): The ASAF members discussed the Board’s current work plan and planned topics for the December 2020 ASAF meeting.

Review the full summary of the meeting on the IASB's website.

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