Summary of the March/April 2022 ASAF meeting now available

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03 May, 2022

The IASB staff have published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held via remote participation on 31 March and 1 April 2022.

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

  • Rate-regulated activities (1–13): The ASAF members generally agreed with the IASB’s approach to prioritise its redeliberations on the proposals related to scope and to total allowed compensation and provided suggestion on how to approach future redeliberations related to the scope.
  • Non-current liabilities with covenants (14–26): The ASAF members provided views on Exposure Draft Non-current Liabilities with Covenants and agreed with the IASB’s decision to propose amendments to IAS 1 and its proposal on the classification of liabilities as current or non-current. In addition, the ASAF members generally agreed that entities should be required to disclose information about covenants and generally disagreed with the proposal to require separate presentation of non-current liabilities with covenants in the statement of financial position for the reasons set out in the alternative view to the Exposure Draft.
  • Primary financial statements (27–67): The ASAF members were updated on the IASB’s redeliberations on the proposals in the Exposure Draft General Presentation and Disclosure and provided suggestions on the project’s direction, categories and subtotals, and management performance measures, and disaggregation. In addition, the ASAF members commented on the partial matrix approach.
  • Supplier finance arrangements (68–78): The ASAF members provided feedback related to the scope, proposed disclosure requirements, and other disclosure requirements in the Exposure Draft Supplier Finance Arrangements.
  • Agenda planning and feedback from the previous ASAF meeting (79–80): The ASAF members discussed which topics it should discuss at its next meeting on 11–12 July 2022.

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

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