IFRS projects — Updated in the last 3 months | Deloitte CFR

IFRS

The following projects were updated in the last three months:

Title Description Last step Date Added
Accounting for Dynamic Risk Management: A Portfolio Revaluation Approach to Macro Hedging (Proposed amendments to IFRS 9) [ED] The DP represents the first stage in this project, by seeking public comment on a possible approach to accounting for an entity’s dynamic risk management activities, namely the portfolio revaluation approach (PRA). Mar 31, 2022
AcSB - Framework for Reporting Performance Measures [Completed] The purpose of the Draft Framework for Reporting Performance Measures is to enhance the relevance of financial information for all entities. Completed Feb 28, 2022
Business Combinations under Common Control (Potential Amendments to IFRS 3) [DP] The essence of the project is to identify whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting. Discussion paper Mar 31, 2022
Classification of Debt with Covenants as Current or Non-current (Proposed amendments to IAS 1) [ED] At its meeting on June 23. 2021, the Board decided to amend IAS 1, Presentation of Financial Statements, in response to new information provided by respondents re the tentative Agenda Decision Classification of Debt with Covenants as Current or Non-current. Exposure draft Apr 30, 2022
Disclosure initiative — Primary Financial Statements [ED] The Primary Financial Statements project examines possible changes to the structure and content of the primary financial statements. Exposure draft Apr 30, 2022
Disclosure initiative — Targeted Standards-level Review of Disclosures [ED] The purpose of this project is to perform a targeted Standards-level review of disclosure requirements. Exposure draft Feb 28, 2022
Equity Method (Possible amendments to IAS 28) [Research] The IASB is undertaking research to assess whether application problems with the equity method as set out in IAS 28, Investments in Associates and Joint Ventures, can be addressed in consolidated and individual financial statements by identifying and explaining the principles of IAS 28 Research Apr 30, 2022
Extractive Industries (Possible replacement of IFRS 6, Exploration for and Evaluation of Mineral Resources) [Research] The IASB is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6, Exploration for and Evaluation of Mineral Resources. Apr 30, 2022
Financial Instruments with Characteristics of Equity (Potential Amendments to IAS 32) [DP] This is currently a joint research project with the FASB to address issues related to the guidance in IAS 32, Financial Instruments: Presentation, which distinguishes between asset and liability instruments (non-equity instruments) and equity instruments. Discussion paper Mar 31, 2022
Goodwill and Impairment [ED] The objective of this project is to consider how to address the three areas of focus identified in the Post-implementation Review of IFRS 3, Business Combinations. Apr 30, 2022
IASB’s Third Agenda Consultation [ED] The IASB is required to undertake a public consultation on its work plan every five years. The primary objective of the agenda consultation is to seek formal public input on the strategic direction and balance of the Board’s work plan. Research Apr 30, 2022
IFRS Taxonomy Proposed Update, Disclosure of Accounting Policies and Definition of Accounting Estimates [Completed] The proposed taxonomy update includes changes to the IFRS Taxonomy elements to reflect new and amended disclosure requirements. Completed Feb 28, 2022
IFRS Taxonomy Update, 2021 Technology Update [Completed] The proposed changes aim to reflect developments in the technology that underlies or relates to the IFRS Taxonomy. Completed Mar 31, 2022
IFRS Taxonomy Update: Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17) [Completed] The proposed changes reflect those made by the amendments to IFRS 17 on Initial Application of IFRS 17 and IFRS 9—Comparative Information Completed Mar 31, 2022
Initial Application of IFRS 17 and IFRS 9―Comparative Information (Amendments to IFRS 17) [Completed] Narrow-scope amendment to the transition requirements of IFRS 17, Insurance Contracts. Completed Mar 31, 2022
ISSB: Climate-related Disclosures [ED] The ISSB have published the Exposure Draft, “Climate-related Disclosures” that builds on the Technical Readiness Working Group (TRWG) prototype of the same name that was issued in November 2021. The resulting standard would be the first thematic standard of the ISSB. Exposure draft Mar 31, 2022
ISSB: General Requirements for Disclosure of Sustainability-related Financial Information [ED] The ISSB have published the Exposure Draft, "General Requirements for Disclosure of Sustainability-related Financial Information" that builds on the Technical Readiness Working Group (TRWG) prototype of the same name that was issued in November 2021. The resulting standard would be the first general presentation standard of the ISSB. Exposure draft Apr 30, 2022
Lease Liability in a Sale and Leaseback [ED] The objective of this project is to amend IFRS 16 to specify how the seller-lessee applies the subsequent measurement requirements in IFRS 16 to the lease liability that arises in a sale and leaseback transaction. Exposure draft Apr 30, 2022
Management Commentary (Wider corporate reporting) [ED] This purpose of this project is to revise and update the “Management Commentary Practice Statement” issued in 2010. Exposure draft Apr 30, 2022
Narrow-scope amendments to IAS 19 and IFRIC 14 — Remeasurement on a plan amendment, curtailment or settlement / Availability of a refund of a surplus from a defined benefit plan [Completed] Narrow-focus amendments to IAS 19, "Employee Benefits", and IFRIC 14, "The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction" Completed Feb 28, 2022

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