This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.



IFRS Foundation issues Formula Linkbase 2017

Jul 26, 2017

On July 26, 2017, the IFRS Foun­da­tion issued the 2017 IFRS Taxonomy Formula Linkbase. The Formula Linkbase is updated from the 2016 version; it is designed to help improve the data quality of IFRS Taxonomy filings and to provide additional guidance for both technical and financial reporting audiences so that they can better understand the IFRS concepts and their meanings.

For more information, see the press release on the IASB's website.



IASB posts webcast on IFRS 16: Lessee Disclosure

Jul 24, 2017

On July 24, 2017, the In­ter­na­tional Ac­count­ing Stan­dards Board (IASB) staff made avail­able a webcast with Board member Stephen Cooper discussing the disclosure requirements for lessees in IFRS 16 Leases. This is the sixth in a series of webcasts that the International Accounting Standards Board (Board) is providing to support the implementation of IFRS 16.

As well as a discussion on IFRS 16 requirements, the webcast contains insights from Stephen Cooper, including his views on: (i) the Board’s rationale for the disclosure requirements in IFRS 16; (ii) the information needs of users of financial statements; and (iii) key considerations for a lessee in determining what information is most relevant to users of financial statements.

The webcast can be accessed via the IFRS 16 implementation page.



Updated IASB work plan — Analysis

Jul 21, 2017

On July 21, 2017, following its July 2017 meeting, the IASB issued an updated work plan. A detailed analysis of the changes that have resulted from the meeting and other de­vel­op­ments in the month of July is set out below. The changes are minor and the main message is that the IASB does currently not intend to issue any pro­nounce­ments until September 2017.

General remarks

Below is an analysis of all changes made to the work plan since our last analysis on June 26, 2017.

Stan­dard-set­ting projects

  • No changes

Main­te­nance projects

Research projects

Other projects

  • No changes

The above is a com­par­i­son of the IASB work plan at June 26, 2017 and at July 21, 2017. For access to the current IASB work plan at any time, please click here.




IASB appoints new Executive Technical Director

Jul 20, 2017

On July 20, 2017, the International Accounting Standards Board (IASB) announced that it has appointed Nili Shah as Executive Technical Director. She follows Hugh Shields in the role of leading the IASB's technical staff and being responsible for the efficient delivery of all technical activities.

Ms. Shah, who will take office in October 2017, is currently Deputy Chief Ac­coun­tant of the Division of Cor­po­ra­tion Finance of the US Se­cu­ri­ties and Exchange Com­mis­sion (SEC). In that capacity she has supported the SEC staff’s dis­cus­sions on IFRSs within the International Or­ga­ni­za­tion of Se­cu­ri­ties Com­mis­sion’s (IOSCO) accounting technical committee.

For more in­for­ma­tion, see the press release on the IASB website.

IFRS - AcSB Image

IFRS 17 webinar for investors

Jul 20, 2017

On July 20, 2017, the International Accounting Standards Board (IASB) has made available a recording of a webinar held jointly by the IFRS Foundation and the Canadian Accounting Standards Board on IFRS 17 in July 2017.

The webinar was tailored to investors and covered the following questions:

  • Why IFRS 17 was developed?
  • How does IFRS 17 work?
  • What are the benefits of IFRS 17?

There is also a section with answers to questions submitted by investors during the webinar.

Listen to the webinar through the press release on the IASB website.

Securities - CSA Image

Canadian Securities Regulators Adopt Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions

Jul 20, 2017

On July 20, 2017, the securities regulators of Alberta, Manitoba and New Brunswick (the Participating Jurisdictions) published a notice of adoption of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (MI 61-101).

MI 61-101 is designed to facilitate the fair treatment of all security holders by addressing potential conflicts of interests on the part of insiders and related parties in certain transactions, and is already in effect in Ontario and Quebec. The instrument contains requirements for enhanced disclosure, independent valuations and majority of minority security holder approvals for transactions such as insider bids, issuer bids, business combinations and related party transactions.

For further details, re­view the No­tice on the CSA's website and MI 61-101 on the ASC’s website.


PSAB Statement of Principles – Public Private Partnerships

Jul 20, 2017

On July 20, 2017, the Public Standards Accounting Board (PSAB) issued a Statement of Principles that proposes a new standard on public private partnerships. Stakeholders are encouraged to submit their comments by October 17, 2017.

The main fea­tures of the proposals in the Statement of Principles (SOP) are as fol­lows:

  • Public private partnership infrastructure is procured by the public sector entity using a private sector partner whose obligations include: a requirement to build, acquire, improve or refurbish; finance; and maintain and/or operate the infrastructure.
  • Public private partnership infrastructure is recognized as an asset where the public sector entity controls the infrastructure.
  • A liability is recognized where the public private partnership gives rise to an obligation to the public sector entity to sacrifice future economic benefits.
  • Infrastructure and the associated liability are measured initially at cost.

Re­view the Statement of Principles on the PSAB's website.


Illustrative tagging for IFRS 17

Jul 19, 2017

On July 19, 2017, the IFRS Foundation published illustrative tagging for the proposed IFRS Taxonomy update regarding IFRS 17 'Insurance Contracts'.

The illustrative tagging shows how selected information from the Illustrative Examples accompanying IFRS 17 could be tagged using the IFRS Taxonomy Update that was proposed together with the issuance of IFRS 17 on May 18, 2017 and is currently expected to be published in the fourth quarter of 2017.

The illustrative tagging is available through the IASB's supporting material section of the Taxonomy Update project page.

Leaf - sustainability (green) Image
European Union Image

HLEG questionnaire on interim report

Jul 19, 2017

On July 18, 2017, the High-Level Expert Group (HLEG) on Sustainable Finance, established by the European Commission, published a first report setting out concrete steps to create a financial system that supports sustainable investments. The HLEG has now launched a questionnaire aimed at gathering targeted feedback on the analysis and reflections in the interim report and informing the preparation of the final report.

This questionnaire is open from July 18, 2017 through September 20, 2017. A copy of the report can be accessed here.


EFRAG’s Summary Report of the joint investor outreach event on the Discussion Paper: Disclosure Initiative—Principles of Disclosure

Jul 19, 2017

On July 19, 2017, the European Financial Reporting Advisory Group (EFRAG) published a summary report of an outreach event for investors held on July 3, 2017 in Brussels on the Discussion Paper: Disclosure Initiative—Principles of Disclosure

The event was organized by the International Accounting Standards Board, in conjunction with EFRAG, the European Federation of Financial Analysts Societies (EFFAS), and the Association Belge des Analystes Financiers (ABAF/BVFA).

It introduced the main elements of the Discussion Paper, the preliminary positions held, focused on the information needs of investors, and sought input on the following issues included in the Discussion Paper: (i) Can principles make communication more effective? (ii) What do investors think are useful examples of disclosures in the financial statements? (iii) Alternative (non-IFRS) performance measures in the financial statements: misleading or useful? (iv) Should unusual or infrequently occurring items be separately reported and if so how? and (v) How important is the application of materiality when deciding what and how to disclose information?

Re­view the Summary Report on the IASB’s website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.