Summary of the October 2021 ASAF meeting now available

  • ASAF meeting (mid blue) Image

08 Nov, 2021

The IASB staff have published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held via remote participation on 1 October 2021.

The topics covered during the meeting were the following (numbers in brackets are ref­er­ences to the cor­re­spond­ing para­graphs of the summary):

  • Equity method (1–17): The ASAF members were provided with an update on the equity method research project and discussed the application question on changes in an investor’s interest in an associate without change in significant influence and application question that have recurrent themes outside the scope of the project.
  • Management commentary (18–26): The ASAF members discussed the IASB’s outreach on the Exposure Draft Management Commentary and provided feedback on the proposal’s objective-based approach, long-term prospects, intangible resources and relationships and environmental, social and governance (ESG) matters, qualified and unqualified statements of compliance, and the interaction between the proposals and local reporting requirements and practices.
  • Primary financial statement (27–50): The ASAF members were presented with an update on the Exposure Draft General Presentation and Disclosures and discussed subtotals and categories, disaggregation, management performance measures, and other comments
  • Rate-reg­u­lated ac­tiv­i­ties (51): ASAF members were presented with an overview of the feedback on Exposure Draft Reg­u­la­tory Assets and Reg­u­la­tory Li­a­bil­i­ties.
  • Agenda planning (52): The ASAF members discussed topics for the December 2021 ASAF meeting.

A full summary of the meeting is available on the IASB's website.

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