The responses to ED/2017/3 seem to fall into three major categories:

• Those who believe that there never was an issue with IFRS 9;
• Those who believe that changes to IFRS 9 are needed, but the approach is wrong/might have unintended consequences; and
• Those who believe that changes to IFRS 9 might be warranted, but the timing is wrong.

The IASB is in the process of posting all responses to the exposure draft to its website.

Review the comment letters on the IASB's website.

So far, four broad areas have been identified where IFRS 13 might benefit from improvements. These four areas are the backbone of the RFI:

• Disclosures about fair value measurements. Some of the disclosure requirements for Level 3 fair value measurements are perceived as onerous while at the same time their usefulness is questioned.
• Prioritising Level 1 inputs or the unit of account. IFRS 13 is perceived as not clear on whether entities should prioritise Level 1 inputs or the unit of account when determining the fair value of investments in joint ventures and associates.
• Application of the concept of the highest and best use. Concerns in this area regard the implications of applying the concept of highest and best use in the measurement of groups of operating assets.
• Application of judgement in specific areas. Challenges around this have been mentioned to the IASB and the question is whether further support could be helpful.

Also, the RFI asks respondents whether the IASB should strive to maintain convergence with US GAAP Topic 820 Fair Value Measurement in any changes that might be the result of the PIR.

Comment deadline is September 22, 2017.

Review the press release and request for information on the IASB's website.

The <IR> framework has become widely adopted and the UK’s guidance on the concept of a strategic report is seen as mainstream. In Hans Hoogervorst’s words: "They put more emphasis on interconnectivity among elements of an integrated report’" They look at "how developments in the external environment have affected a company’s business model and strategy’" he said. It is time for change. Now more than ever people need integrated reporting-style reporting.

Read the entire column on our Global IAS Plus site.

These requirements will apply to oil and gas facilities that are responsible for the extraction, production, processing, and transportation of crude oil and natural gas. This includes oil and gas wells and batteries, natural gas processing plants, compressor stations, and supporting pipelines.

Review the press release and the proposed regulations on the Government of Canada's website.

Also, a summary of the proposed regulations is available on the Norton Rose Fulbright's website.

For the moment, critical issues associated with privacy and scalability mean that the project won't form the basis of interbank payments for the moment. There are also regulatory and, it seems, cultural issues to deal with, before a decentralized system can replace a centralized one.

Read the article on the Globe and Mail's website.

The topics discussed at the meeting included:

• Primary financial statements
• Rate-regulated activities
• Clarifications to IFRS 8 arising from the post-implementation review
• IFRS 3, Business Combinations: Definition of a business
• Disclosure Initiative — outreach planning for the Disclosure Initiative — Principles of Disclosure discussion paper and case studies
• Education session — insurance contracts

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

Speakers included Matt Slavin and Walter Hamscher of the US Securities and Exchange Commission, who provided a great overview of the requirements. John Turner, CEO of XBRL International added useful information about developments with regard to inline XBRL (iXBRL) which is being adopted around the world, and being considered or planned by the SEC and ESMA, among others. Inline XBRL allows filers to prepare one financial statement easily readable by humans in the traditional format but containing XBRL tags for computer and analytical use.

Listen to the recording.

More information about the issues is set out below:

Review all our comment letters to the IASB, IFRS Foundation, and IFRS Interpretations Committee on our Global IAS Plus website.

In addition to material issued alongside IFRS 17, the page also offers contact details and submission information for technical inquiries and implementation issues.

The IASB will keep the implementation support page available through the whole implementation process for IFRS 17 and will continue to add additional information that becomes available.

Review the new page on the IASB's website.

The call for research seeks applications to undertake a literature review, bringing together the existing academic literature on the effect of implementation of IFRS 13, Fair Value Measurement. The IASB expects to receive a full literature review and a summary, which highlight findings in the existing literature as they relate to the areas of focus in the Board’s PIR of IFRS 13.

Review the call for applications on the IASB's website.