The agenda for the meeting is sum­marised below:

For more information, see the agenda on the IASB's website.

The FCA highlights that failure to file interim accounts is the most common situation where dividends are paid out in a manner which infringes relevant company law.

The FCA highlights that in the last few years it has seen resolutions put to shareholders in general meetings seeking to rectify situations where dividends have been paid in such a manner.  These resolutions aim to put the company, its shareholders, directors and former directors in the position they would otherwise have been in had the interim accounts been filed.  When this approach is proposed, the FCA reminds premium listed issuers to also consider how to apply LR 11.

For more information see the FCA Primary Market Bulletin 20 on the FCA website.

Mr Hoogervorst began with a recap of the progress IFRS Standards have made globally with 144 jurisdiction which have adopted IFRS Standards. He mentioned that other jurisdictions, such as China, India, and Indonesia, have substantially converged their national accounting requirements with IFRS Standards and that the United States remains as the only large jurisdiction where adoption has stalled.

Next, he shared feedback on the big four Standards (IFRS 9, IFRS 15, IFRS 16, and IFRS 17) that have been issued and provided examples of how these Standards have benefited financial reporting.

Lastly, Mr Hoogervorst discussed the primary financial statements project, which he considers a ‘game changer’ since it provides an opportunity to improve the communications effectiveness of financial statements. He noted that:

Overall, our decisions thus far will create much more structure in the income statement and will definitely enhance comparability. The improved structure will make it much easier for users to find the components for the analysis that they prefer. The increased transparency around the adjustments that companies make in their non-GAAP measures will provide the investor with a lot of information about the underlying strategy of management.

For more information, see the transcript of the speech on the IASB’s website.

Applying the criteria for evaluating proposed amendments agreed on in October 2018, the staff asks the Board to consider the following recommendations:

The staff notes that after its March 2019 meeting, the Board will have considered all 25 topics identified in October 2018. At its April 2019 meeting, the Board plans to consider the package of amendments tentatively decided by the Board as a whole.

As part of its ongoing efforts to support report preparers as they adopt and advance integrated reporting in their organisation, the International Integrated Reporting Council (IIRC) has published the IIRC Practice Aid designed to help preparers navigate International <IR> Framework requirements. Please click to access the practice aid on the IIRC website.

The Global Reporting Initiative (GRI) and the United Nations Global Compact initiative have announced their continued partnership to develop best practices for corporate reporting on the Sustainable Development Goals (SDGs), empowering businesses to prioritize SDG targets and measure and report on progress. Please see the press release on the GRI website for more information.

The Social & Human Capital Coalition (SHCC) launched the Social & Human Capital Protocol. The protocol provides a consistent process to guide businesses as they assess their relationship with social and human capital. It offers an overarching framework for collaborative action to bring together different approaches for social and human capital measurement and valuation and is designed to be used alongside the Natural Capital Protocol to understand the full spectrum of business interactions with people, society and the environment. Please click for more information on the SHCC website.

The Corporate Governance Council of the Australian Securities Exchange (ASX) has published a revised Australian Corporate Governance Code, which references the role integrated reporting can play in providing investors with a broader range of information to inform their investment decisions. The Code also notes integrated reporting in the context of disclosure on environmental and social risks and how an entity plans to manage such risks. Please click to access the revised code on the ASX website.

The United Nation's Sustainable Stock Exchanges (SSE) initiative notes that the Toronto Stock Exchange (TSX) has become an SSE Partner Exchange. Please see the press release on the SSE website for more information.

The new video runs through a range of information about how to use the ESEF and IFRS taxonomies, map concepts from an issuers’ face financials to the base taxonomy, and the basics of the anchoring rules for extending the taxonomy to take account of company-specific concepts.

Please click to access the thirteeen minute video on YouTube.

The full agenda for the meeting is sum­marised below:

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

The Board will discuss the following:

• Classification of liabilities as current or non-current (amendments to IAS 1)
  • Liabilities with equity-settlement features
  • Lending conditions tested after the reporting period
• SMEs that are subsidiaries — Project update
• SME Standard review and update — Relationship between the IFRS for SMEs Standard and full IFRS Standards
• Financial instruments with characteristics of equity — Key themes emerging from feedback
• Business combinations under common control
  • Overview of the staff's approach
  • Lenders and other creditors in BCUCC
• Extractive activities — Feedback summary
• Primary financial statements
  • Additional proposals on minimum line items
  • Unusual items
• Amendments to IFRS 17 Insurance Contracts
  • Level of aggregation
  • Credit cards that provide insurance coverage
  • Transition requirements
  • Amendments to disclosure requirements resulting from the Board's tentative decisions to date
  • Implications for disclosure and transition requirements
• Disclosure initiative
  • Due process steps
• IBOR reform and the effects on financial reporting
  • Voluntary application and end of relief
  • Due process steps

The full agenda for the meeting can be found here. We will post any updates to the agenda, our com­pre­hen­sive pre-meet­ing summaries as well as observer notes from the meeting on this page as they become available.

Participants of the CRD advocate working together to provide guidance and structure for businesses to be transparent and accountable, and to ensure better decision-making that promote financial stability and sustainable development.

The paper, entitled SDGs and the future of corporate reporting, identifies how corporate reporting can illustrate which SDGs are relevant to a company’s business model, enabling both companies and investors to focus on those SDGs most likely to impact financial performance. The paper also articulates the importance of driving integration of financial and non-financial information to demonstrate how companies create value for stakeholders over the short and long term. In addition, the paper outlines the work that the particpants of the CRD, as framework providers and standard-setters, must undertake to ensure there is guidance for business at the level of the underlying SDG targets and to ensure that businesses are producing meaningful information and indicators.

Please click for the press release and the position paper on the IIRC website.

The IPSASB’s strategic objective is to strengthen public financial management globally through increasing adoption of accrual-based IPSAS. To achieve this, the IPSASB will develop and maintain IPSAS and other high-quality financial reporting guidance for the public sector and raise awareness of IPSAS and the benefits of accrual adoption. The development of global standards includes setting standards on public sector specific issues, maintaining IFRS alignment, and developing guidance to meet users’ broader financial reporting needs.

Please click for more information and access to the strategy and work plan for 2019-2023 on the IPSASB website.