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Report on the autumn 2017 IFASS meeting

  • IFASS (International Forum of Accounting Standard Setters) (dark green) Image

20 Nov 2017

A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London on 26 and 27 September 2017.

As reported earlier, a major topic of the meeting was wider corporate reporting and the way forward for the IASB. Please see our detailed summary of that discusssion. (The IASB has just recently added a project to its agenda that seeks to review and update the Management Commentary Practice Statement issued in 2010 to help address the lack of alignment and integration between wider corporate reporting and financial reporting.)

The IFASS members also discussed:

  • Cooperation of IFASS participants;
  • BCUCC: Mergers & Acquisitions – The premise for separate accounting methods;
  • Research on pensions: Hybrid plans; and
  • Interpretation issues regaring IAS 24 Related Party Disclosures and IAS 12 Income Taxes.

The next meeting of the IFASS will take place in Mumbai on 12 and 13 April 2018.

Please click for the full report from the meeting.

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