EFRAG agrees on IFRS 17 letter to IASB

04 Sep, 2018

At its 3 September meeting, the Board of the European Financial Reporting Advisory Group (EFRAG) agreed on a letter to the IASB regarding IFRS 17 'Insurance Contracts'.

EFRAG is currently in the process of preparing draft endorsement advice on IFRS 17 and in this context notes a number of concerns of its constituents. EFRAG has not yet determined the impact of these issues on the draft endorsement advice that is under preparation. However, as EFRAG also notes that the IASB is showing willingness to consider issues associated with the implementation of IFRS 17 and has already tentatively agreed small changes to the standard (to be dealt with as part of its annual improvements project), the EFRAG Board decided to bring the concerns of European constituents to the IASB's attention.

The letter agreed on yesterday can be downloaded here from the EFRAG website.

Agenda for the September 2018 IFRS Interpretations Committee meeting

03 Sep, 2018

The IFRS Interpretations Committee will meet in London on 11 and 12 September 2018 to discuss thirteen issues, including five new interpretation requests.

The new issues relate to:

  • IFRS 15 — Assessment of promised goods or services
  • IFRS 11 — Joint operations
  • IAS 38 — Cloud computing arrangements
  • IAS 27 — Investments in a subsidiary accounted for at cost
  • IAS 37 — Payments relating to taxes other than income tax

The full agenda for the meeting can be found here. We will update this page for any changes to the agenda and our Deloitte pre-meeting summaries for the meeting as they become available.

Agenda for the September 2018 ITCG meeting

03 Sep, 2018

The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be held by conference call on 6 September 2018.

The agenda is summarised below:

Thursday 6 September 2018 (13:00-14:00)

  • IFRS Taxonomy implementation notes: Proposed technical method
  • Proposed IFRS Taxonomy Update ─ IFRS 13 Fair Value Measurement: Update
  • General improvements to the 2018 IFRS Taxonomy

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

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