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Updated IPSAS-IFRS alignment dashboard
01 Mar 2021
The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.
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Gender pay gap reporting regulation enforcement delayed to October
26 Feb 2021
The Equality and Human Rights Commission (EHRC) has announced that due to the continued effects of the COVID-19 pandemic, it will only commence enforcement action against employers failing to report their gender pay gap after 5 October 2021.
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Agenda for March 2021 CMAC meeting
26 Feb 2021
Representatives from the International Accounting Standards Board (IASB) will meet with the Capital Markets Advisory Council (CMAC) by video conference on 11 March 2021. The agenda for the meeting has been released.
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IOSCO calls on IASB and FASB to collaborate on goodwill accounting
26 Feb 2021
The International Organization of Securities Commissions (IOSCO) has released a statement urging the International Accouting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) to collaborate closely with each other on accounting for goodwill.
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IOSCO calls for globally consistent, comparable, and reliable sustainability standards
25 Feb 2021
The International Organization of Securities Commissions (IOSCO) has released a statement noting the urgent need for global sustainability standards and supporting a Sustainability Standards Board (SSB) under the IFRS Foundation.
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IASB issues podcast on latest Board developments (February 2021)
24 Feb 2021
The IASB has released a podcast featuring IASB Chair Hans Hoogervorst and Vice-Chair Sue Lloyd to discuss deliberations at the 4 February 2021 supplementary meeting and the 16–17 February 2021 IASB meeting.
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EFRAG launches podcast series on the post-implementation reviews of IFRS 10, IFRS 11, and IFRS 12
24 Feb 2021
The EFRAG has released a first podcast on the post-implementation review of IFRS 10 ‘Consolidated Financial Statements’, IFRS 11 ‘Joint Arrangements’ and IFRS 12 ‘Disclosure of Interests in Other Entities’, which provides an introduction into the post-implementation review process.
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Deloitte supports the IASB's proposal to extend the practical relief regarding COVID-19-related rent concessions
24 Feb 2021
We have commented on IASB exposure draft ED/2021/2 'Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16)', which was published by the IASB on 11 February 2021. The exposure draft proposes to extend the May 2020 amendment that provides lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification.
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Agenda for the March 2021 ASAF meeting
24 Feb 2021
The International Accounting Standards Board (IASB) has released an agenda and meeting papers for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held by remote participation on 18-19 March 2021.
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Report from the November 2020 Emerging Economies Group meeting
23 Feb 2021
The 20th meeting of the IASB's Emerging Economies Group (EEG) was held via remote participation on 30 November–1 December 2020. The IASB has published a full report from the meeting.
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FCA Policy Statement and Listing Rule promoting better climate-related financial disclosures aligned with TCFD
published 01 Mar 2021
The Financial Conduct Authority has published a Policy Statement (PS20/17) and new listing rule LR 9.8.6R(8) to promote higher-quality climate-related financial disclosures. The rule is effective for accounting periods beginning on or after 1 January 2021 and applies to UK incorporated and overseas commercial companies with a premium listing. In this edition of Need to know, we outline the key requirements of the PS.
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Deloitte comment letter on the IASB's proposal to extend the practical relief regarding COVID-19-related rent concessions
published 24 Feb 2021
We support the extension of the availability of the practical expedient so that it applies to rent concessions that affect payments originally due on or before 30 June 2022 instead of 30 June 2021, for the reasons stated in the basis of conclusions on the exposure draft. We also agree with the proposed effective date and transition provisions.
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EFRAG endorsement status report 18 February 2021
published 18 Feb 2021
The endorsement status report has been updated to reflect that EFRAG has published draft endorsement advice on 'Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16)'.
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Need to know-FRC issues Amendments to FRS 102 - Interest Rate Benchmark Reform (Phase 2)
published 16 Feb 2021
This Need to know addresses the amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland that were published by the Financial Reporting Council (FRC) in December 2020.
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Need to know — IASB amends IAS 1 and IFRS Practice Statement 2 with regard to the disclosure of accounting policies
published 15 Feb 2021
This Need to know outlines the amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements titled Disclosure of Accounting Policies, published by the International Accounting Standards Board (Board) in February 2021.
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Need to know — IASB amends IAS 8 to clarify the definition of accounting estimates
published 15 Feb 2021
This Need to know outlines the amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors titled Definition of Accounting Estimates, published by the International Accounting Standards Board (Board) in February 2021.
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Need to know — IASB proposes amendment to IFRS 16 to extend the practical relief on rent concessions
published 15 Feb 2021
This Need to know outlines the proposed amendment to IFRS 16 Leases set out in ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021, published by the International Accounting Standards Board (Board) in February 2021.
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Deloitte comment letter on tentative agenda decision on configuration or customisation costs in a cloud computing arrangement (IAS 38)
published 15 Feb 2021
We have commented on the IFRS Interpretations Committee's publication in the December 2020 IFRIC Update of the tentative decision not to take onto the Committee’s agenda the request for clarification on accounting for costs of configuring or customising the supplier’s application software in a Software as a Service (SaaS) arrangement.
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Deloitte comment letter on tentative agenda decision on classification of debt with covenants as current or non-current (IAS 1)
published 15 Feb 2021
We have commented on the IFRS Interpretations Committee's publication in the December 2020 IFRIC Update of the tentative decision not to take onto the Committee’s agenda the request for clarification on whether an entity has a right to defer settlement of a liability for at least 12 months after the reporting period when the right to defer is subject to specified conditions.
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Deloitte comment letter on tentative agenda decision on attributing benefit to periods of service (IAS 19)
published 15 Feb 2021
We have commented on the IFRS Interpretations Committee's publication in the December 2020 IFRIC Update of the tentative decision not to take onto the Committee’s agenda the request for clarification about the periods of service to which an entity attributes benefit for a particular defined benefit plan.
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IASB Meeting — 16–17 February 2021
Start: 16 Feb 2021 - End: 17 Feb 2021
The IASB met via video conference on 16–17 February 2021.
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IASB Meeting — 4 February 2021 (Supplementary)
Start: 04 Feb 2021 - End: 04 Feb 2021
The IASB met via video conference on 4 February 2021.
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IFRS Interpretations Committee meeting — 2 February 2021
Start: 02 Feb 2021 - End: 02 Feb 2021
The IFRS Interpretations Committee met via video conference on Tuesday 2 February 2021 to discuss three topics.
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IASB Meeting — 26 January 2021
Start: 26 Jan 2021 - End: 26 Jan 2021
The IASB met via video conference on 26 January 2021.
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IASB Meeting — 26 January 2021
Start: 26 Jan 2021 - End: 26 Jan 2021
The IASB will meet via video conference on 26 January 2021.
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IASB Meeting — 14–16 December 2020
Start: 14 Dec 2020 - End: 16 Dec 2020
The IASB will meet via video conference on 14–16 December 2020.
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IFRS Interpretations Committee meeting — 1-2 December 2020
Start: 01 Dec 2020 - End: 02 Dec 2020
The IFRS Interpretations Committee met via video conference on Tuesday and Wednesday 1-2 December 2020.
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IASB Meeting — 18–19 November 2020
Start: 18 Nov 2020 - End: 19 Nov 2020
The IASB met via video conference on 18–19 November 2020. The second day of the meeting was a joint education session with the FASB.
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IASB Meeting — 27–29 October 2020
Start: 27 Oct 2020 - End: 29 Oct 2020
The IASB will meet via video conference on 27–29 October 2020.
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IASB Meeting — 22–23 September 2020
Start: 22 Sep 2020 - End: 23 Sep 2020
The IASB met via video conference on 22–23 September 2020.
