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January

2020 required and annotated required IFRS Standards now available

23 Jan 2020

The IFRS Foundation announces that the annual publication formerly known as the 'Blue Book' is now available.

The Required IFRS Standards 2020 publication contains all official pronouncements that are mandatory on 1 January 2020. It does not include IFRSs with an effective date after 1 January 2020. The Annotated Required IFRS Standards 2020 includes the same content as Required IFRS Standards 2020, but with additional annotations containing extensive cross-references, explanatory notes and IFRS Interpretations Committee agenda decisions.

The books are available in electronic format for subscribers to eIFRS Professional. Printed copies of the books are available for sale through the IASB's web shop.

AcSB and ASBJ hold joint meeting

14 Jan 2020

On 13 January 2020, the Canadian Accounting Standards Board (AcSB) and the Accounting Standards Board of Japan (ASBJ) held a joint meeting in Toronto. The meeting was the first bilateral meeting between the two standard-setters.

At the meeting, the AcSB and the ASBJ both introduced their respective financial reporting frameworks and activities, and exchanged views on the opportunities for cooperation. They also discussed specific technical topics in which both Boards have interest, including insurance, revenue recognition and leases. The two standard-setters plan to continue to exchange views.

For more information about the meeting, see the press release on the ASBJ website.

Agenda and pre-meeting summaries for the January 2020 IFRS Interpretations Committee meeting

09 Jan 2020

The IFRS Interpretations Committee will hold a video meeting on Tuesday 21 January 2020 to finalise one agenda decision.

The whole meeting is scheduled to last only 30 minutes.

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

Agenda for the January 2020 ITCG meeting

07 Jan 2020

The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be held in London on 19 January 2020.

The agenda is sum­marised below:

Thursday 16 January 2020 (09:00-17:00)

  • IFRS Taxonomy modelling for Exposure Draft General Presentation and Disclosures
  • Review of common reporting practice related to the primary financial statements
  • Review of common reporting practice related to IAS 19 Employee Benefits
  • Review of common reporting practice related to IFRS 7 Financial Instruments: Disclosures
  • Review of IFRS Taxonomy supporting materials

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

CMAC seeks members

17 Jan 2020

The Capital Markets Advisory Committee (CMAC) is seeking new members and welcomes applications from analysts and investors from all over the world.

New members will start on 1 January 2021 for a term of three years, renewable once for a further three years. For more information, see the press release on the IASB website.

EFRAG notes possible EU endorsement of IBOR amendments "by mid-January"

08 Jan 2020

The European Financial Reporting Advisory Group (EFRAG) has published an updated endorsement status report to provide additional guidance on when endorsement of the two amendments to IFRSs that became effective on 1 January 2020 but have not been endorsed for use in the European Union yet might be expected.

The amendments are Definition of a Business (Amendments to IFRS 3) and Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7).

On the IFRS 3 amendments EFRAG notes: "The required scrutiny period by the European Parliament will only conclude mid-March 2020. The finalisation of the process will then proceed as usual."

On the IBOR amendments, the report states: "Almost all formalities for endorsement have been completed. Without pre-empting the final adoption procedures, the amendments could be adopted by mid-January followed by publication in the Official Journal."

Please click to access the updated status report.

EFRAG publishes a feedback statement on the IASB Exposure Draft ED/2019/6 Disclosure of Accounting Policies

24 Jan 2020

The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on the International Accounting Standards Board (IASB's) Exposure Draft ED/2019/6 Disclosure of Accounting Policies.

EFRAG published its final comment letter on 12 December 2019.

This feedback statement summarises the comments received by EFRAG on its draft comment letter and explains how those comments were considered by EFRAG during its technical discussions leading to the publication of EFRAG's final comment letter.

A press release and the feedback statement are available on the EFRAG website.

EFRAG publishes December 2019 issue of 'EFRAG Update'

08 Jan 2020

The European Financial Reporting Advisory Group (EFRAG) has published an 'EFRAG Update' summarising public technical discussions held and decisions made during December 2019.

The update reports on the EFRAG conference call on 11 December, the EFRAG Board meeting on 18 December, the EFRAG Technical Expert Group meeting on 4 to 5 December, the meeting of the EFRAG CFSS and EFRAG TEG on 4 December and the meeting of the European Lab Steering Group on 3 December.

The update also lists EFRAG publications issued in December:

Please click to download the December EFRAG Update from the EFRAG website.

EFRAG publishes its feedback statement on proposed amendments to interest rate benchmark reform

08 Nov 2019

The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on the International Accounting Standards Board (IASB's) exposure draft 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39).'

EFRAG published its final comment letter in June 2019.

The feedback statement describes the main comments received by EFRAG in response to its draft comment letter and how these comments were considered by EFRAG in finalising its final comment letter to the IASB 

A press release and the feedback statement are available on the EFRAG website.

EFRAG TEG appointments and reappointments

07 Jan 2020

The Board of the European Financial Reporting Advisory Group (EFRAG) has announced the appointment of four new members of — and six reappointments to — its Technical Experts Group (TEG).

The new EFRAG TEG members are Jens Berger (Leader of Deloitte Germany's IFRS Centre of Excellence), Erlend Kvaal (academic, Norway), David Procházka (at large, Czech Republic) and Christoph Schauerte (industry, Germany). The appointments of Mr Berger, Mr Kvall and Mr Schauerte are effective 1 January 2020, while Mr Procházka will begin his term on 1 April 2020.

EFRAG TEG Vice-Chair Nicklas Grip has been reappointed, along with Ana Rosa Cortez, Geert Ewalts, Emmanuelle Guyomard, Ambrogio Virgilio and Jed Wrigley. Their reappointments are effective from 1 April 2020.

For more information, see the press release on the EFRAG Web site.

 

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