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Pre-meeting summaries posted for the IASB's September meeting

  • IASB meeting (blue) Image

13 Sep 2016

The International Accounting Standards Board (IASB) will meet at its offices in London on 20 and 22 September 2016. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

On Tuesday 20 September, the IASB will discuss five topics:

  • The Board has been considering amending IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, to clarify how to distinguish between a change in accounting policy and a change in an estimate. If the Board agrees with the staff recommendation we expect to see the exposure draft being published in the next few months.
  • The Board has two hours scheduled to discuss its thinking for the Discussion Paper planned on Financial Instruments with the Characteristics of Equity. The focus is on the application of the separate presentation requirements to derivatives classified as liabilities. The objective is to complete the discussion of the application of the Gamma approach to derivatives on ‘own equity’. The Board will also discuss how to improve the disclosure requirements to provide information to users that is not provided through classification and presentation.
  • The Board is being asked to clear for publication a draft Interpretation on the interaction between the impairment requirements in IFRS 9 and IAS 28.
  • The Board will hear the main messages the staff plan to give in the Feedback Statement on the Agenda Consultation.
  • The Board also has an education session (which means that no technical decisions will be made) on revisions to the measurement sections of the Conceptual Framework.

On Thursday 22 September, the IASB will discuss its revisions to the Conceptual Framework. The Board is seeking to conclude its discussions on the reporting entity, presentation and disclosure, asymmetry in treating gains and losses, the definition of equity and materiality. Note that there is a longer than normal break in the middle of this session, with the public discussions being scheduled for 9:00am to 11:00am and 1:30pm to 2:30pm, London time.

Our pre-meeting summaries are available on our meeting note page and will supplement them with our popular meeting notes after the meeting.

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