The pocket guide (24 pages) includes insights from the discussions of the Transition Resource Group for IFRS 17 and the simple example of a reinsurance contract held illustrates the requirements applied to a group of underlying insurance contracts and applied to a reinsurance contract held that provides proportionate coverage for that group of underlying insurance contracts.

Review the press release, pocket guide and simple example on the Board's website.

Given the complexity of IFRS 17 and the change it represents for Canadians, the AcSB performed extensive additional outreach activities. The Appendix to the summary lists these activities, all of which were influential in the development of the final standard.

Review the publication on the AcSB's website.

The publication covers:

• what a mutual entity is;
• accounting for contracts issued by a mutual entity; and
• whether a mutual entity could have equity.

Review the press release and the publication on the Board's website.

On July 9, 2018, Deloitte's IFRS Global Office has published an IFRS in Focus newslet­ter looking into im­pli­ca­tions of the situation in Argentina as regards reporting on Ar­gen­tin­ian op­er­a­tions at June 30, 2018 and dis­clo­sure in June 2018 financial state­ments under IFRS.

Please click here to access the pub­li­ca­tion.

The article outlines the similarities between IFRS 17 and other IFRS^® Standards as regards the measurement of obligations at current value and the recognition of revenue as a company provides services to its customers. It concludes that the changes introduced by IFRS 17 will enable a wider range of users to understand insurers’ financial statements and compare them with the financial statements of companies within and outside the insurance industry.

Review the article on the Board's website.

The OSC received 20 comment letters on its draft 2018-2019 Statement of Priorities. Feedback was broadly supportive of the proposed priorities, including continued improvements to investor protection and efforts to increase the deterrent impact of enforcement actions. This final publication of the 2018-2019 Statement of Priorities now also includes a priority related to the continued review of the effectiveness of the disclosure requirements regarding women on boards and in executive officer positions.

Review the press release and the Statement of Priorities on the OSC's webiste.

A working group of staff from the standard-setters in the five jurisdictions embarked on research to produce evidence demonstrating whether there is a need for accounting guidance addressing hybrid pension plans. The working group's aim was to understand the experiences of jurisdictions around the world with hybrid pension plans and whether common issues arise as well as to determine whether existing standards adequately deal with such plans and identify possible improvements, if needed. The research is on-going and is currently being expanded to other jurisdictions.

The research so far provides evidence from multiple jurisdictions to support a need for guidance on accounting for hybrid pension plans and is sufficiently complete to be brought to the attention of others with a view to encouraging standard-setting action on this topic. Therefore, the working group proposes that the IASB consider the research performed to date and either add it as another dimension to the feasibility study Pension Benefits that Depend on Asset Returns in its research pipeline or take on a project to address hybrid pension plans.

Meanwhile, the working group will expand its research to other jurisdictions by summarising and analysing data collected from IFASS member jurisdictions, will expand outreach to financial statement users and academics within several jurisdictions, and will continue to monitor related activities.

Review the working group's paper on the IASB's website.

The CDAC advises OSC staff on the planning, implementation and communication of its continuous disclosure review program, as well as related policy initiatives. The CDAC also serves as a forum to advise OSC staff on emerging issues. OSC staff recognize the critical importance of consulting with market participants and other stakeholders in carrying out its mandate.

The CDAC will meet approximately five times per year with members serving a two-year term.

Review the press release on the OSC's website.

This issue features:

• Spotlight — IFRS 16 Leases
• Spotlight — ESMA and IFRS Standards
• In Profile —Selim Gogus, Credit Suisse HOLT
• Project updates
• Information on investor materials and current events

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

In addition to giving updates on their respective standard-setting activities at the meeting, the two boards exchanged views on implementation activities regarding the standards on financial instruments, revenue, and leases, technical issues on IFRS 17 and the IASB’s current project on rate-regulated activities. In addition, the AcSB and the OIC discussed two projects of individual interest, specifically, relevance of performance measures and business combinations under common control.

Review the press release on the AcSB's website.