Agenda for the upcoming IFASS meeting

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30 Aug, 2016

The International Forum of Accounting Standard Setters (IFASS) will meet in London on 27 and 28 September 2016. One topic of discussion will be the future of IFASS and the expectations regarding the cooperation with the IASB.

The meeting will directly follow the the 2016 World Standard-Setters (WSS) meeting and will be the first meeting under the chairmanship of Ms Liesel Knorr, former president of the Accounting Standards Committee of Germany (ASCG).

The agenda is summarised below:

Tuesday, 27 September 2016 (14:00-18:30)

  • Opening remarks
  • Cooperation of IASB and IFASS/NSS
  • Closed Session: Future of IFASS
    • Consider participants' assessment of last IFASS meeting
    • Future IFASS Strategy
    • What do NSS expect/wish regarding and cooperation with the IASB?
  • Professional Judgement and “Terms of Likelihood” under IFRS – Follow-up on the research performed by AASB and KASB
  • Optional Session: Improvements to IAS 7 Statement of Cash Flows – FRC Discussion paper

Wednesday, 28 September 2016 (09:00-17:30)

  • Closed Session: Future of IFASS (continued)
  • Improvements to IAS 7 Statement of Cash Flows – Brief overview of the DP’s main ideas
  • Towards a Framework for Corporate Reporting
  • Outreaches on IAS 26 and IFRS 13
    • Future of IAS 26 Accounting and Reporting by Retirement Benefit Plans
    • PiR of IFRS 13 Fair Value Measurement
  • Rate regulated activities
    • Information about research undertaken on the economic value of financial information on RRA
    • Rationales for recognising regulatory assets and liabilities
    • Input from IFASS members
  • Not-for-profit reporting – Update on the work of the NFP working group
  • Public sector reporting (IPSASB)
    • Update on current project relevant to IFASS
    • Exchange and Non-exchange revenues
  • Wrap up

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