• IASB Vice-Chair Sue Lloyd discusses transition options and benefits;
• IASB Member Gary Kabureck explains early planning and practical steps;
• IASB Member Darrel Scott expands on judgements and discount rates; and
• IASB Member Stephen Cooper examines investor expectations and lease disclosures between now and 2019.

Review the article on the IASB's website.

In the article, Mr. Siegel concludes that the answer to the question of whether FASB should engage in sustainability and/or ESG issues "is not binary". He notes that the Board engages where those issues are within the boundaries of financial reporting set forth by the FASB's Conceptual Framework, but that not all sustainability or ESG information is within the boundaries.

Review the article on the FASB's website.

Mr. Scott has been an academic in the field of accounting at various universities in Canada since the late 1970s. Most recently, he acted as a Director and Professor of Accounting at the School of Accounting and Finance, University of Waterloo, Canada. He also served as a member of the Canadian Accounting Standards Board from 2003 to 2011.

Review the announcement on the IASB's website.

In April and May 2016, the IASB posted a series of eight webinars on the forthcoming Standard.

The new webinar covers:

• The need for change and the history of the project
• Level of aggregation
• Applying the Standard for the first time

Please click to access the update, as well as all previous webinars, on the IASB's website.

While IFAC had originally maintained that there are a range of different organizational reporting frameworks and that it was important to examine the relationship between these frameworks, this position has now been modified and IFAC puts the International Integrated Reporting Council (IIRC) and the implementation of its Framework first claiming that integrated reporting is the key to enhanced organizational reporting. The paper states:

[T]he integrated report can be used as an “umbrella” report for an organization’s broad suite of reports and communications, enabling greater interconnectedness between different reports and recognizing that there is a range of different frameworks and regulations available, and under development.

The updated version of the paper also includes a new section that describes integrated reporting in more detail.

Review the following information on the IFAC's website:

• IFAC press release
• Enhancing Organizational Reporting: Integrated Reporting Key - two page overview
• Enhancing Organizational Reporting: Integrated Reporting Key - full Policy Position Paper

The Terms of Reference of both Councils are now more closely aligned and reflect current oversight procedures.

Review the Terms of Reference on the AcSOC's website.

In an article on CFO.com, featuring some graphics does make sense because research has shown that people process visual information faster than verbal information.

Graphics can have an impact on the information perceived, such that where a report includes both text and graphics, the audience is likely to lend greater weight to the graphical information. On the other hand, sometimes graphics may not convey information clearly or efficiently.

Review the full article on Cooley Pubco's website.

Also, refer to our Annual Review Guide for guidance on financial reporting disclosures.