May 2017 IASB meeting notes posted

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18 May, 2017

The IASB met at its offices in London on 16–17 May 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting. The meeting had only one decision making session, on implementation issues. All of the other sessions were non-decision making education sessions.

The meeting started with a session on dynamic risk management. The staff explained to the Board how net interest margin is managed, and the related financial reporting implications.

This was followed by a session on rate-regulated activities, focusing on the characteristics of the supplementary rights and obligations created by rate adjustment mechanisms.

The afternoon session focused on implementation issues. The IASB ratified an Interpretation Uncertainty over Income Tax Treatments. The Board also decided to proceed with amendments to IAS 28 Investments in Associates and Joint Ventures to clarify that IFRS 9 applies to long-term interests in such investments. The proposal was included in the Exposure Draft Annual Improvements to IFRS Standards 2015–2017 Cycle published in January 2017.

They completed the day with updates on the implementation of IFRS 16 Leases and the research programme.

On Wednesday, the Board discussed goodwill and impairment and ways to simplify the impairment test.

Please click to access the detailed notes taken by Deloitte observers for the entire meeting.

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