Stakeholders are invited to participate in a survey that is designed to explore views of financial statements preparers and users with regard to the practices in financial reporting for Islamic financial institutions, thereby helping AAOIFI to better align its standards to the requirements of its present and prospective stakeholders and to keep them close to global best practices and free of confusion and errors.

Please click to access the survey on the AAOIFI website.

The podcast features discussions of the following topics in more detail (length of the podcast: ten minutes):

• IFRS 17 Insurance contracts
• Goodwill and impairment
• Primary financial statements
• Disclosure initiative
• Implementation

The podcast can be accessed through the press release on the IASB website. More information on the topics discussed is available through our comprehensive notes taken by Deloitte observers at the October IASB meeting.

Can­di­dates should have knowledge in XBRL and electronic financial reports structured using the IFRS Taxonomy. Ap­pli­ca­tions are requested by 9 November 2018. For more in­for­ma­tion, see the press release on the IASB website.

The ASAF is comprised of 12 members and a non-voting chair. The new composition is as follows:

Please click for the press release on the IASB website.

Ms Tarca's speech was a tour d'horizon covering:

• development of a set of global standards for use in the world’s capital markets (2001–2005);
• the convergence program with the FASB and impact of the global financial crisis (2006–2009);
• working on the major standards (2010–2013); and
• implementation of the major standards and the better communication initiative (2014 onwards).

A transcript of her speech is available on the IASB website.

The IFRS convergence amendments reflect the following IASB amendments:

• Annual Improvements to IFRSs 2011 – 2013 Cycle (issued December 2013)
• Disclosure Initiative (Amendments to IAS 7) (issued January 2016)
• Transfers of Investment Property (Amendments to IAS 40) (issued December 2016)
• Annual Improvements to IFRSs 2014 – 2016 Cycle (issued December 2016)
• IFRIC 22 Foreign Currency Transactions and Advance Consideration (issued December 2016)
• Annual Improvements to IFRS Standards 2015 – 2017 Cycle (issued December 2017)
• Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) (issued February 2018)

Please click to access the final amendments Improvements to IPSAS, 2018 on the IPSASB website.

The evidence the IASB is looking for includes

• responses to consultative documents;
• fieldwork such as assessing systems changes or the hypothetical application of a proposed new financial reporting requirement;
• empirical analysis from studies of reported accounting data, share price relationships and analysts’ forecasts;
• the results of experimental studies;
• analytical modelling; and
• collecting and analysing views from surveys.

Topics and presenters of the sixth round of the research programme are available through the press release on the IASB website.

The full agenda for the meeting is summarised below:

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

ESMA considers the following key topics to be especially relevant for the examinations of listed companies' financial statements:

• application for the first time of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers, and
• disclosure of the implementation and expected impact of IFRS 16 Leases.

In addition, this year’s priorities highlight the requirements to disclose non-financial information, with a focus on environmental matters, and specific aspects of ESMA’s Guidelines on Alternative Performance Measures. ESMA also highlights the importance of disclosures analysing the possible impacts of the decision of the United Kingdom to leave the European Union.

ESMA and European national enforcers will monitor and supervise the application of the IFRS requirements outlined in the priorities, with national authorities incorporating them into their reviews and taking corrective actions where appropriate. ESMA will collect data on how European listed entities have applied the priorities and will publish its findings in a separate report.

Please click for the following documents on the ESMA website:

• Press release
• Public statement on enforcement priorities, providing more background on each of the focus areas

During its October meeting, the Board discussed criteria the IASB staff have developed for the Board to apply in assessing whether a concern warrants considering an amendment as well as 25 concerns/issues identfied by the staff. In a podcast released today, IASB member Darrel Scott noted that first decision making in this context is expected in 1-2 months. This is not reflected in the updated work plan yet.

Below is an analysis of all changes that were made to the work plan since our last analysis on 25 September 2018.

Maintenance projects

• Accounting Policies and Accounting Estimates (Amendments to IAS 8) — A decision on the project direction is now expected in December 2018 (was: October 2018)
• Definition of a business (Amendments to IFRS 3) — As the amendments were published on 22 October 2018, this has been removed from the work plan

Research projects

• Disclosure initiative — Principles of disclosure — A project summary is now expected in the first quarter of 2019 (no date given before)

Other projects

• IFRS Taxonomy update — 2018 general improvements — A proposed update is expected in December 2018 (was: fourth quarter of 2018)

The above is a faithful comparison of the IASB work plan at 25 September 2018 and at 26 October 2018. For access to the current IASB work plan at any time, please click here.