Specifically, the proposed amendments would:

• Increase the maximum tenure of the Trustee Chair and Vice-Chair to nine years.
• Allow the option to appoint a Chair from either internally within the Trustees or externally.
• Clarify the requirements for Trustee reappointments.

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

The article describes how the CAM dialogue is inspiring audit committees to think hard even about their own disclosures. Audit committees do not want to see auditors disclosing information about the company that the company itself has not already disclosed. That concern emerged among auditors during the public dialogue and debate as the PCAOB developed the new auditor’s reporting model.

Review the full article on Compliance Week's website.

The AcSB wants to discuss and improve financial and non-financial performance measures reported outside of financial statements.

In introducing the framework, the AcSB notes concerns that are often mentioned in connection with performance measures:

• the quality of performance measures being reported;
• the lack of consistency, transparency and comparability of performance measures reported period to period;
• the “expectation gap” about the governance practices of entities over how performance are developed and reported, and whether those measures are subject to assurance, and
• the limited guidance available on how to develop and report performance measures not usually subject to assurance.

Consequently, the framework is intended to be a tool to guide:

• management in developing and assessing how effectively they report financial and non-financial performance measures;
• directors and others charged with governance in fulfilling their responsibilities when assessing management’s processes and reporting of performance measures; and
• investors, contributors, lenders and other resource providers in setting expectations and seeking compliance with the framework as part of obtaining the information they need.

This Framework applies to a performance measure that is reported separately from and is not part of a set of financial statements (including note disclosures) prepared in accordance with an accounting framework, such as Canadian GAAP, IFRS® Standards or US GAAP; and is:

• a non-GAAP financial measure that is an adjustment to a GAAP financial measure*, such as funds from operations and adjusted earnings;
• another financial measure that is a financial measure and is not a GAAP or non-GAAP financial measure, such as dollars of order backlog and cost per dollar raised; or
• a non-financial measure or operational measure that reports physical or non-financial data, such as number of volunteers, employees, members, active users or new stores, and performance ratings on client service, safety and reliability.

Review the press release and Draft Framework on the AcSB's website.

In his speech, Mr. Hinman states that:

Review the full speech on the SEC's website.

There is some evidence to suggest that due to structural changes in well-developed economies, the correlation between economic and tax revenue growth is not as strong as it was.

There is also a demographic impact—almost well-developed nations’ populations are aging, which presents a double impact on public finances. This means that there is a decrease in the percentage of the population actively in the workforce at the same time as an increase in the demand on public services, such as pensions, social care for the elderly, and healthcare.

Without some form of change in policy or a substantial increase in the tax revenue, social provisions on the current scale is not likely to be sustainable over the long term.

Review the full article on the IFAC's website.

Filings with significant deficiencies can be defined as those that are “not minimally compliant with statutory or regulatory requirements.” Letters issued on June 15, 2018, or later will be published first; these letters will appear on EDGAR within 10 calendar days of issuance.

The article noted the "seismic change" IFRS 17 is expected to have on insurance companies as well as the user community. Though implementing the Standard may be turbulent, Ms. Fisher emphasized it's impact: "it will make a huge difference to the consistency and comparability of insurance companies."

The article explains:

• The "trouble" with IFRS 4, the interim insurance contracts Standard;
• comparability and transparency; and
• impact around the world.

Review the article is available on the Boards's website.

CSA Staff Notice 46-308 outlines specific situations that may have an implication on the presence of one or more of the elements of an investment contract in the context of an offering of coins or tokens.

This notice supplements the CSA’s August 2017 publication of CSA Staff Notice 46-307 Cryptocurrency Offerings, which outlines how securities law requirements may apply to initial coin offerings, initial token offerings, cryptocurrency investment funds and the cryptocurrency platforms trading these products.

Any business planning to raise capital through an offering of coins or tokens should consider whether it involves the distribution of a security.

Review the press release on the CSA's website and the Staff Notice on the member's website.

The updated projects, include, proposed Quality Control at a Firm Level (ISQC 1), Quality Control at the Engagement Level (ISA 220), the proposed new Engagement Quality Control Standard (ISQC 2) and the proposed revisions to the Agreed-Upon Procedures International Standard on Related Services (ISRS 4400).

View the webcast on the IESBA's website.

The topics covered during the meeting were the following (numbers in brackets are ref­er­ences to the cor­re­spond­ing para­graphs of the summary):

• Rate-regulated activities (1–9): ASAF members discussed (1) unit of account and asset/liability definitions and (2) scope of the model. In addition, the ASAF members discussed the development of communication materials.
• Disclosure initiative — Principles of disclosure (10–24): ASAF members discussed (1) location of information that includes IFRS information outside of financial statements and non-IFRS information within financial statements and (2) accounting policy disclosures.
• Commodity loans and related transactions (25–43): ASAF members discussed several topics related to items described in the Board’s January 2018 meeting. These include: (1) the extent that entities in their jurisdictions enter into transactions, (2) diversity in accounting, (3) standard-setting activities, and (4) potential standard-setting activities.
• Accounting policies and accounting estimates (44–48): ASAF members were provided feedback on Exposure Draft, Accounting Policies and Accounting Estimates, and provided views on next steps for the project.
• Is financial reporting still an effective tool for equity investor in Australia? (49–51): ASAF members viewed a presentation from by the AASB on financial reporting’s effectiveness for equity investors in Australia.
• Goodwill and impairment (52–71): The ASAF members discussed (1) a staff proposal that amends the impairment testing of goodwill by considering movements in headroom and (2) the IFRS 3 requirement to recognize all identifiable intangible assets acquired in a business combination separately from goodwill.
• Primary financial statements (72–88): ASAF members provided views the Board’s tentative decisions to date on the application to financial entities and aggregation and disaggregation.
• IFRS Foundation Due Process Handbook review (89–99): ASAF member were updated on the Trustees’ review of the Due Process Handbook and provided views on its scope.
• Project updates and agenda planning (100–104): ASAF members were updated on the IASB research pipeline and provided advice on how to proceed with the post-implementation reviews of IFRS 10, IFRS 11, and IFRS 12.

A full summary of the meeting is available on the Board's website.