A summary of the agenda is set out below:

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

The agenda for the DPOC meeting is sum­marised below.

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

The agenda is summarised below:

Agenda papers for this meeting will be made available on the IASB website.

The article builds on a panel discussion at the IFRS Foundation Virtual Conference on 28 September 2020, which focused on what entities need to consider when developing assumptions in preparing financial statements in times of heightened uncertainty and what information to disclose about the assumptions used.

Please click to access In Brief: Applying IFRS Standards in 2020 — impact of covid-19 on the IASB website.

In his response, Mr Thedéen repeats the April 2020 IOSCO statement that IOSCO is looking to play an important role in the area of sustainability reporting. Commenting once more on the IFRS Foundation sustainability reporting consultation and the statement of intent of CDP, CDSB, GRI, IIRC, and SASB, he notes again that while these initiatives are currently running in parallel, IOSCO is keen to see them come together.

On IOSCO's role and the path forward, Mr Thedéen reconfirms that IOSCO stands ready to offer support and help. He writes:

As noted, we agree that there is an urgent need to improve the completeness, consistency and comparability of sustainability reporting. Together your joint initiative and that of the IFRS Foundation [...] can set the foundations of a global system architecture that will deliver a more coherent and comprehensive corporate reporting system. [...] We believe that IOSCO is in a unique position to help in this process - just as we did 20 years ago when we endorsed IFRS for use in cross-border offerings and listings and set the foundations of the current three-tier governance structure that the IFRS Foundation enjoys today. We look forward to continuing and deepening our collaboration with your organisations and the IFRS Foundation.

Please click to access the full letter on the IOSCO website.

In his response, Mr Thedéen repeats the April 2020 IOSCO statement that IOSCO is looking to play an important role in the area of sustainability reporting. Commenting once more on the IFRS Foundation sustainability reporting consultation and the statement of intent of CDP, CDSB, GRI, IIRC, and SASB, he notes again that while these initiatives are currently running in parallel, IOSCO is keen to see them come together.

On IOSCO's role and the path forward, Mr Thedéen reconfirms that IOSCO stands ready to offer support and help. He writes:

As noted, we agree that there is an urgent need to improve the completeness, consistency and comparability of sustainability reporting. Together your joint initiative and that of the IFRS Foundation [...] can set the foundations of a global system architecture that will deliver a more coherent and comprehensive corporate reporting system. [...] We believe that IOSCO is in a unique position to help in this process - just as we did 20 years ago when we endorsed IFRS for use in cross-border offerings and listings and set the foundations of the current three-tier governance structure that the IFRS Foundation enjoys today. We look forward to continuing and deepening our collaboration with your organisations and the IFRS Foundation.

Please click to access the full letter on the IOSCO website.

The briefing paper describes the positive draft endorsement advice of the European Financial Reporting Advisory Group (EFRAG) on IFRS 17 that notes that the Board achieved consensus on all issues with the exception of annual cohorts, with nine Board members voting in favour of the cohorts meeting the endorsement criteria and seven members disagreeing. The briefing paper also cites an article by IASB Chair Hans Hoogervorst explaining the reasons supporting the IASB’s recent decision to uphold the annual cohort requirement in IFRS 17 for grouping insurance contracts to measure and recognise profit.

Please click to access the briefing paper on the website of the European Parliament.

The EFRAG analysis aims at assessing possible impacts of the new accounting model under consideration based on an understanding of users' current information needs and approaches towards analysing rate-regulated entities.

Please click for more information on the EFRAG website.

The endorsement advice relates to the following narrow scope amendments to (the amendments):

• IAS 37 Provisions, Contingent Liabilities and Contingent Assets, Onerous Contracts — Cost of Fulfilling a Contract;
• IFRS 3 Business Combinations, Reference to the Conceptual Framework;
• IAS 16 Property, Plant and Equipment, Proceeds before Intended Use; and
• Annual Improvements to IFRS Standards 2018–2020, which amends IAS 41, IFRS 16, IFRS 1 and IFRS 9.

EFRAG recommends the endorsement of the Amendments. EFRAG’s assessment is that the Amendments meet all the technical endorsement criteria of the IAS Regulation and are conducive to the European public good.

A press release and the endorsement advice letters to the European Commission are available on the EFRAG website. EFRAG has also updated its endorsement status report.

High-level speakers and panellists will consider the IASB’s preliminary views included in the Discussion Paper Business Combinations —  Disclosures, Goodwill and Impairment and the EFRAG’s Draft Comment Letter.

Please click for more information and registration for the event on the EFRAG website.