IASB meeting — 19–21 April 2016

Start date:

End date:

Location: London

IASB (International Accounting Standards Board)

The April IASB meeting was held over three days starting on Tuesday 19 April. Fifteen different projects were discussed. The main reason for the large range of papers is that the IASB gave time to many if its research projects. At the March IASB meeting the staff indicated that they would start to set out clearer objectives for the individual projects, and the April papers reflect this. 

Technical decisions

The IASB continued its discussion of the proposals it has exposed to provide an interim bridge between IFRS 9 and the yet to be finalised new requirements for insurance contracts and supported the staff's recommendations.

From the Disclosure Initiative, the IASB decided to expose proposed amendments to IAS 8 in relation to changes in accounting policies and estimates. However, rather than including them in the next annual improvements package they will be exposed separately.

The IASB also discussed the comment letters and outreach on the proposed Practice Statement on materiality. The IASB has asked the staff to examine whether it should be issued as application guidance rather than a practice statement.

The meeting also saw the first of the decision making sessions for the revisions to the Conceptual Framework, reaffirming the purpose and status of the Framework. 

Other matters

For most of the research projects the sessions provided the Board with a recap of the issues and the staff sought directional feedback rather than making technical decisions.  

The IASB continued to discuss a proposal to make a fundamental change to the impairment of goodwill, and expressed general support for developing the idea further.   

The meeting also included several sessions relating to feedback from the agenda consultation. The staff will reflect on the IASB discussions and bring papers back in May that will allow to IASB to assess the potential projects against each other.


Agenda for the meeting

Tuesday, 19 April 2016 (10:15–16:45)

  • IFRIC update
  • Agenda Consultation:
    • Cover note
    • Effect of comments received on setting the work plan
    • Overview of investor feedback
    • Primary financial statements
    • Research overview
    • Pollutant pricing mechanisms
    • Rate-regulated activities
  • Insurance and IFRS 9

Wednesday, 20 April 2016 (9:00–17:45)

  • Disclosure Initiative:
    • Feedback summary on ED: IFRS Practice Statement Application of Materiality to Financial Statements
    • Disclosures about restrictions on cash and about liquidity
  • Conceptual Framework
  • Agenda Consultation:
    • Provisions, contingent liabilities and contingent assets
    • Comments received on IFRS 5
    • New topics
    • Discount rates
  • Financial instruments with characteristics of equity

Thursday, 21 April 2016 (9:15–14:55)

  • Business combinations under common control
  • Goodwill and impairment
  • Disclosure Initiative
  • Agenda Consultation — Wrap up

Agenda papers for this meeting are available on the IASB's website.

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