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UN issues statement on ISSB exposure drafts
29 Jun 2022
Several United Nations (UN) organisations have responded with a joint statement to the proposed standards of the International Sustainability Standards Board (ISSB).
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Speech of the Chair of the Board of IOSCO at the IFRS Foundation Conference
28 Jun 2022
On 23 June 2022, Mr Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong and Chair of the Board of the International Organization of Securities Commissions (IOSCO) outlined in a speech at the IFRS Foundation Conference the path forward for the endorsement of future standards of the International Sustainability Standards Board (ISSB) by IOSCO. A comprehensive summary of the speech is now available on the SFC website.
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New SMEIG members appointed
28 Jun 2022
The IFRS Foundation have announced that four new members from Africa and Asia/Oceania have been appointed to the SME Implementation Group (SMEIG).
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G7 welcomes ISSB’s progress on global baseline of sustainability disclosures
28 Jun 2022
Following the G7 Leaders' Summit 2022, a joint declaration has been published that stresses the need for a transition of the whole economy towards sustainability, net-zero and nature-positive outcomes to achieve a sustainable planet.
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FRC publishes professional judgement guidance for auditors
24 Jun 2022
The Financial Reporting Council (FRC) has published professional judgement guidance for auditors to improve how they exercise professional judgement.
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IASB Chair discusses the IASB work plan
24 Jun 2022
At the IFRS Foundation Conference currently held in London, IASB Chair Andreas Barckow discussed the IASB’s decisions on its work plan as a result of the outcomes of the IASB's third agenda consultation and the rationale for these decisions.
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IFRS Foundation announces two additional ISSB members
24 Jun 2022
The Trustees of the IFRS Foundation have announced the appointment of Jeffrey Hales and Michael Jantzi as ISSB Board members. Their appointments mean that the ISSB is now quorate.
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Future collaboration between ISSB and GRI
23 Jun 2022
In March 2022, the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI) announced a Memorandum of Understanding that aims at coordinating the work programmes and standard-setting activities of the two organisations. More detailed ideas of how this could be achieved have now been published.
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Chair of the Trustees speaks at IFRS Foundation Conference
23 Jun 2022
Erkki Liikanen, Chair of the IFRS Foundation Trustees, spoke at the IFRS Foundation Conference, which is split into one sustainability day and one accounting day, about the IASB and the ISSB.
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Agenda for the June 2022 DPOC meeting
22 Jun 2022
The Due Process Oversight Committee (DPOC) will hold its 28 June 2022 meeting in Montreal, Canada.
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UKEB to host outreach event on ISSB ED's
20 Jun 2022
The UK Endorsement Board (UKEB) will be hosting a virtual event to discuss the International Sustainability Standard Board's (ISSB's) Exposure drafts ED/2022/S1 'General Requirements for Disclosure of Sustainability-Related Financial Information' and ED/2022/S2 'Climate-related Disclosures'.
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Agenda papers available for the UK Endorsement Board Meeting on 23 June 2022
20 Jun 2022
The meeting agenda and papers for the UK Endorsement Board (UKEB) meeting on 23 June 2022 are available.
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EFRAG to hold fourth EFRAG Sustainability Reporting Board webcast
14 Jun 2022
The European Financial Reporting Advisory Group (EFRAG) have announced that it will hold its fourth EFRAG Sustainability Reporting Board webcast meeting on Thursday 28 April 2022
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ESRS outreach event focused on financial institutions
03 Jun 2022
On 22 June 2022, the European Financial Reporting Advisory Group (EFRAG) and several of its member organisations will hold a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special financial institutions focus.
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Second IVSC perspectives paper on intangible assets
01 Jun 2022
The International Valuation Standards Council (IVSC) is publishing a series of perspectives papers 'Time to get Tangible about Intangible Assets' that notes that despite the importance of intangible assets to the capital markets, only a small percentage are recognised on balance sheets.
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UKEB comment letter regarding a tentative agenda decision on IFRS 17
30 May 2022
The UK Endorsement Board (UKEB) has published its comment letter on the IFRS Interpretations Committee tentative agenda decision on IFRS 17 and the transfer of insurance coverage under a group of annuity contracts.
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UKEB publishes its draft comment letter on ISSB Exposure Drafts IFRS S1 and IFRS S2
30 May 2022
The UK Endorsement Board (UKEB) has published its draft comment letter relating to the International Sustainability Standards Board (ISSB) Exposure Drafts (EDs): S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and S2 Climate Related Disclosures (IFRS S2).
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FRC publishes its 2020/2021 audit quality inspection findings
30 May 2022
The Financial Reporting Council (FRC) has published key findings and good practices identified by its Audit Quality Review (AQR) team during the 2020/21 audit quality inspections of the seven largest audit firms.
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Staff seeks feedback on future on a future IFRS sustainability disclosure taxonomy for digital reporting
25 May 2022
The staff of the International Sustainability Standards Board (ISSB) is looking for feedback that would inform the development of a taxonomy to enable digital consumption of sustainability disclosures prepared using the ISSB's IFRS Sustainability Disclosure Standards.
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We comment on four IFRS Interpretations Committee tentative agenda decisions
25 May 2022
We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IFRS 9/IFRS 16, IFRS 17 and IAS 32, as published in the March 2022 'IFRIC Update'.
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Governance in focus – Effectiveness of the external audit process – 2022 framework
published 16 Jun 2022
The importance of the audit committee’s focus on audit appointment, audit quality and the effectiveness of the external audit process continues to increase. Indeed, it is more important than ever that the audit committee should be able to make their assessment of audit quality with confidence, as it is a key part of the audit committee’s role to scrutinise the quality of the external audit on behalf of shareholders. This concise set of just thirty questions for audit committees and ten questions for material component management to consider has been updated to reflect the fast-moving world of audit and reporting.
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IAS 34 compliance checklist 2022
published 10 Jun 2022
This checklist summarises the requirements set out in IAS 34 Interim Financial Reporting in issue as of 31 December 2021. This workbook may be used to assist in considering compliance with IAS 34. Although this workbook may be used to assist generally in considering compliance with the requirements of IAS 34, it is not a substitute for your understanding of IAS 34 and the exercise of your judgement. This is a "pure" IFRS compliance checklist. UK IFRS reporters should additionally refer to '2020 update on half-yearly financial reporting' for the legal and regulatory requirements which UK IFRS reporters will also need to comply with.
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IFRS compliance, presentation and disclosure checklist 2022
published 10 Jun 2022
The checklist summarises the recognition, measurement, presentation and disclosure requirements set out in IFRSs in issue as of 31 December 2021. This is a "pure" IFRS compliance, presentation and disclosure checklist. UK IFRS reporters should additionally consider the legal and regulatory requirements which UK IFRS reporters will also need to comply with.
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IFRS on Point — May 2022
published 02 Jun 2022
IFRS on Point highlights critical financial reporting developments and main IFRS-related news stories of the previous month.
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Deloitte comment letter on tentative agenda decision on SPACs and the accounting for warrants at acquisition
published 25 May 2022
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda. However, we believe that some aspects of the analysis may require further consideration before the agenda decision is finalised.
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Deloitte comment letter on tentative agenda decision on SPACs and the classification of public shares as financial liabilities or equity
published 25 May 2022
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons outlined in the decision. However, we suggest removing one statement that might be misread.
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Need to know — European sustainability reporting — EFRAG launches consultation on first set of European Sustainability Reporting Standards
published 24 May 2022
This Need to know discusses the draft European Sustainability Reporting Standards (ESRS) that have been published by the European Financial Reporting Advisory Group (EFRAG) in April 2022.The publication outlines the background, proposed architecture of ESRS, proposed cross-cutting standards and proposed topical standards.
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Deloitte comment letter on tentative agenda decision on transfer of insurance coverage under a group of annuity contracts
published 24 May 2022
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.
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Deloitte comment letter on tentative agenda decision on lessor forgiveness of lease payments
published 24 May 2022
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda. However, we have concerns that the analysis presented in the tentative agenda decision may have unintended consequences in a number of areas and suggest that further analysis may be warranted before the tentative agenda decision is finalised.
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Report on the H1 2022 IFASS meeting
published 09 May 2022
Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held by remote participation on 7 and 8 March 2022. As reported earlier, among the topics discussed at the meeting were the second review of the IFRS for SMEs and sustainability reporting.
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IASB Meeting — 20–22 June 2022
Start: 20 Jun 2022 - End: 22 Jun 2022
The IASB will meet in London on 20–22 June 2022.
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IFRS Interpretations Committee meeting — 14–15 June 2022
Start: 14 Jun 2022 - End: 15 Jun 2022
The IFRS Interpretations Committee met on 14–15 June 2022 to discuss six topics.
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IASB Meeting — 23–27 May 2022
Start: 23 May 2022 - End: 27 May 2022
The IASB met via video conference on 23–27 May 2022.
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IASB Meeting — 25–28 April 2022
Start: 25 Apr 2022 - End: 28 Apr 2022
The IASB met via video conference on 25–28 April 2022.
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IFRS Interpretations Committee meeting — 20 April 2022
Start: 20 Apr 2022 - End: 20 Apr 2022
The IFRS Interpretations Committee met via video conference on 20 April 2022 to discuss one topic.
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IASB Meeting — 22–24 March 2022
Start: 22 Mar 2022 - End: 24 Mar 2022
The IASB met in its offices in London on 22–24 March 2022.
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IFRS Interpretations Committee meeting — 15-16 March
Start: 15 Mar 2022 - End: 16 Mar 2022
The IFRS Interpretations Committee met via video conference on 15 and 16 March 2022 to discuss five topics.
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IASB Meeting — 21–24 February 2022
Start: 21 Feb 2022 - End: 24 Feb 2022
The IASB met in its offices in London on 21–24 February 2022.
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IFRS Interpretations Committee meeting — 1 February
Start: 01 Feb 2022 - End: 01 Feb 2022
The IFRS Interpretations Committee met via video conference on 1 February 2022 to discuss four topics.
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IASB Meeting — 25 January 2022
Start: 25 Jan 2022 - End: 25 Jan 2022
The IASB met in its offices in London on 25 January 2022.