The Financial Accounting Standards Board issued its hedging standard last August, making it effective for public companies in 2019 and private companies in 2020, but also allowing for early adoption. The standard refines and expands hedge accounting for both financial risks, such as interest rates, and commodity risks.

Review the full article on Accounting Today's website.

IAS 29 "Financial Reporting in Hyperinflationary Economies" defines and provides general guidance for assessing whether a particular jurisdiction's economy is hyperinflationary. But the IASB does not identify specific jurisdictions. The International Practices Task Force (IPTF) of the Centre for Audit Quality (CAQ) monitors the status of "highly inflationary" countries. The Task Force's criteria for identifying such countries are similar to those for identifying "hyperinflationary economies" under IAS 29.

The IPTF's discussion document for the November 21, 2017 meeting is now available and states the following view of the Task Force:

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

• South Sudan
• Suriname
• Venezuela

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

• Angola
• Libya
• Argentina

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

• Sudan

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

• Ukraine

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

• Democratic Republic of Kongo
• Egypt
• Yemen

Review the press release and full list, including exact numbers, detailed explanations of the calculation of the numbers, and observations of the Task Force on the CAQ's website.

More than 260 French-speaking organizations use the GRI framework to produce sustainability reports that clearly show their economic, social and environmental impacts. And with the change from G4 Guidelines to GRI’s Sustainability Reporting Standards (GRI Standards), these organizations can work with a new clear, modular model to help them improve on their reporting.

Review the press release and the French translations on the GRI's website.

These types of amendments are generally referred to as “corrective disclosure” and include the following:

• Restatement and refiling of financial statements;
• Amending and refiling previously filed continuous disclosure documents;
• Filing documents that were to have been previously filed; and
• Clarifying or removing website or social media content.

Review the Staff Notice on the OSC's website and a summary on Stikeman Elliott's website.

This webcast is part of a series to support the implementation of IFRS 17.

Review the press release on the Board’s website. In addition, earlier webcasts and webinars on IFRS 17 are available through an archive.

Blockchain’s rise to prominence was led by an interest in blockchain-based token sales, commonly referred to as initial coin offerings (ICOs), which raised almost US$4 billion in 2017 alone. Yet despite blockchain’s impressive growth, many commentators believe we have just scratched the surface, labelling 2018 the “Year of Blockchain.”

Review the full article on Davies' website.

Robert Uhl is US National Director of Accounting Standards. He is also the US leader on Deloitte’s Global IFRS Leadership Team and a member of the Financial Accounting Standard Board’s Emerging Issues Task Force.

The other reappointed member, Jongsoo Han, is a Member of the Korea Accounting Standards Board (KASB) and Chairman of the Korea Institute of CPAs’ Accounting Research Committee.

Review the press release on the International Accounting Standards Board's website.

This issue features:

• Spotlight — Timing and amount of revenue recognition
• IFRS 15 In Profile
• Project updates
• Information on investor materials and current events

Review the Investor Update newsletter on the Board’s website.

He will succeed current IFAC Chief Executive Officer, Fayez Choudhury, whose term expires at the end of the year.

Review the press release on the IFAC's website.

The topics discussed at this meeting include:

• Boundary of reinsurance contracts held
• Separation of insurance components of a single insurance contract
• Boundary of contracts with annual repricing mechanisms
• Insurance acquisition cash flows paid on an initially written contract
• Determining quantity of benefits for identifying coverage units
• Insurance acquisition cash flows when using fair value transition
• Reporting on other questions submitted to the IASB® Transition Resource Group for IFRS 17, Insurance Contracts

Review the summary on the AcSB's website.