IAS Plus

European Commission adopts guidelines on the disclosure of non-financial information

27 Jun 2017

The EU Directive on disclosure of non-financial and diversity information by large companies and groups addressing environmental, social, and governance (ESG) issues entered into force on 6 December 2014. The European Commission (EC) has now adopted non-binding guidelines on the disclosure of non-financial information by companies. Their objective is to help companies fulfil the requirement to disclose relevant and useful information on environmental and social matters in a consistent and more comparable way.

ICAEW publishes guidance on applying materiality requirements in ISA audits

27 Jun 2017

The Institute of Chartered Accountants in England and Wales (ICAEW) has published a practical guide for auditors who are applying the materiality requirements in International Standards on Auditing (ISAs) on audits.

EFRAG TEG meeting June 2017

27 Jun 2017

The European Financial Reporting Advisory Group (EFRAG) will its EFRAG TEG meeting on 29 June 2017 in Brussels.

EFRAG TEG and EFRAG CFSS meeting June 2017

27 Jun 2017

The European Financial Reporting Advisory Group (EFRAG) will its EFRAG TEG and EFRAG CFSS meeting on 28 June 2017 in Brussels.

FRC consults on revisions to money laundering guidance material

27 Jun 2017

The Financial Reporting Council (FRC) has issued a consultation proposing to issue revised guidance material on the anti-money laundering requirements in UK legislation.

IASB abandons PDF viewer approach

27 Jun 2017

Saved links to PDF documents on the new IASB website now return a "No valid document" comment without indicating why the document is no longer available nor where it can be found now. IAS Plus have investigated the issue and found that the IASB has abandoned the PDF viewer approach it had adopted when moving to its new website.

June 2017 IASB meeting notes posted

26 Jun 2017

The IASB met at its offices in London on Wednesday 21 and Thursday 22 June 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

How are IFRS Standards developed?

26 Jun 2017

The IFRS Foundation has published a video that explains how standards are developed.

IPSASB podcast and Q&A document on materiality

23 Jun 2017

The International Public Sector Accounting Standards Board (IPSASB) staff have issued a podcast and a questions and answers document on the application of materiality to preparing financial statements.

Academic workshop on measurement in financial reporting

23 Jun 2017

The European Financial Reporting Advisory Group (EFRAG) invites academics to join a workshop on measurement in financial reporting and the challenges and objectives connected with it in Brussels on 5 September 2017.

Governance in focus — On the board agenda — H2 2017

published 27 Jun 2017

The Deloitte Academy’s review of hot topics for boards and committees for the remainder of the year covers both emerging themes as well as areas of regulatory focus. We have pulled together in one place a series of articles across the board and board committee agenda – from responding to Brexit, demonstrating the board’s consideration of broader stakeholder interests and addressing complex and emerging technology matters. There is much more to consider than usual.

Need to know — ICAEW and ICAS publish updated guidance on realised and distributable profits under the Companies Act 2006

published 22 Jun 2017

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of Scotland (ICAS) have jointly issued TECH 02/17 to assist companies in determining whether profits made are realised and can be paid out as dividends.

IFRS on Point — May 2017

published 19 Jun 2017

IFRS on Point, published at the end of each month, highlights critical IFRS-related financial reporting developments.

Deloitte comment letter on tentative agenda decision on IFRS 9 — Financial assets available for the election to present changes in fair value in other comprehensive income

published 13 Jun 2017

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision.

EFRAG endorsement status report 7 June 2017

published 08 Jun 2017

This endorsement status report update reflects the issuance of IFRIC 23 'Uncertainty over Income Tax Treatments' by the IASB on 7 June 2017. Final endorsement of the interpretation is currently expected in 2018.

Need to know — IASB issues IFRIC 23 'Uncertainty over Income Tax Treatments'

published 07 Jun 2017

This edition of Need to Know outlines a new Interpretation, IFRIC 23 'Uncertainty over Income Tax Treatments', issued by the International Accounting Standards Board (‘IASB’) in June 2017.

Insurance webcast 64 — The IASB publishes IFRS 17

published 05 Jun 2017

Provides an overview of the scope of IFRS 17, unbundling of non-insurance components, measurement requirements, level of aggregation, insurance revenue, transition, and next steps.

Need to know — IASB issues Request for Information as part of its Post-Implementation Review of IFRS 13

published 31 May 2017

This newsletter outlines the contents of the Request for Information issued by the IASB as part of the post-implementation review of IFRS 13 'Fair Value Measurement'.

Deloitte comment letter on ESA Consultation

published 29 May 2017

The European Economic Area member firms of Deloitte Touche Tohmatsu Limited have responded to the European Commission’s consultation on “The Operations of the European Supervisory Authorities”.

Board impact — Thinking differently about boards

published 25 May 2017

Are boards worth it? The best way to demonstrate that boards matter is to show their impact. This opinion piece explores what positive impact looks like, the qualities of boards that have a positive impact and how to go about measuring or evaluating that impact.

IASB meeting — 21–22 June 2017

Start: 21 Jun 2017 - End: 22 Jun 2017

The IASB will meet at its offices in London on 21–22 June 2017.

IFRS Interpretations Committee meeting — 13 June 2017

Start: 13 Jun 2017 - End: 13 Jun 2017

The IFRS Interpretations Committee met in London on Tuesday 13 June 2017. The Committee discussed 11 issues — one on-going, five previously issued agenda decisions, and five new.

IASB meeting — 16–17 May 2017

Start: 16 May 2017 - End: 17 May 2017

The IASB met at its offices in London on 16–17 May 2017. There were six topics on the agenda.

IFRS Interpretations Committee meeting — 3 May 2017

Start: 03 May 2017 - End: 03 May 2017

The IFRS Interpretations Committee met via Video Conference Call on Wednesday 3 May 2017. They discussed one new issue and the staff also identified the new issues that have come to them that they are still analysing for future meetings.

IASB meeting — 24 and 27 April 2017

Start: 24 Apr 2017 - End: 27 Apr 2017

The IASB will meet at its offices in London on 24 and 27 April 2017. One session will be held jointly with the FASB.

IASB meeting — 21–22 March 2017

Start: 21 Mar 2017 - End: 22 Mar 2017

The IASB met at its office in London on 21–22 March 2017.

IFRS Interpretations Committee meeting — 14-15 March 2017

Start: 14 Mar 2017 - End: 15 Mar 2017

The IFRS Interpretations Committee met in London on Tuesday and Wednesday 14-15 March 2017. The IFRS Interpretations Committee deliberated comment letters received on issues regarding IAS 19 and IFRS 11, finalised agenda decisions on IAS 2, IAS 12, IAS 28, and IFRS 10, and considered new issues on IAS 12, IAS 19, IAS 32, IAS 33, IAS 41, IFRS 1, and IFRS 9.