The agenda items for discussion are as follows:

• Endorsement of 2021 NSA – Approval of PIP
• ISSB Exposure Drafts – Draft Comment Letter
• Research Project: Intangibles – Update 
• Ongoing monitoring of IASB Projects: Primary Financial Statements
• IFRS 17 – Response to IFRS Interpretations Committee’s Tentative Agenda Decision

The meeting agenda and papers and details of how to register are available on the UKEB website.

The meeting recording can be found on the UKEB website here. 

The agenda for the DPOC meeting is sum­marised below.

The agenda item on improving the communications around post-implementation reviews concerns addressing an expectation gap that seems to have arisen around what post- implementation reviews (PIRs) are about and what to expect as an outcome. In an attempt to more clearly communicate to stakeholders PIR objectives, process and possible outcomes, the staff is in the process of drafting an updated description of PIRs for the IFRS Foundation website. The description is derived from the Due Process Handbook but tries to more clearly articulate key points. The paper for the meeting sets out the main clarifications to the description in the Due Process Handbook. It also notes that the DPOC plans to update the Due Process Handbook for the creation of the International Sustainability Standards Board (ISSB), which the staff thinks might be a good point of time to improve the description of PIRs in the Due Process Handbook in line with the clarifications currently being developed for the IFRS Foundation website.

Agenda papers for the meeting are available on the IFRS Foundation website.

The introduction to the consultation paper argues that while there has recently been significant progress towards the development of a global baseline for sustainability reporting in the private sector, public sector sustainability reporting has yet to move forward in the same way. At the same time, the paper goes on to state, governments are significant in expenditure and employment terms in all jurisdictions, as well as in the global bond market. How and where they spend the money they raise through the taxes everyone pays will therefore be critical in successfully delivering the United Nation’s Sustainable Development Goals.

The consultation paper now released proposes the IPSASB:

• serve as the standard setter for global public sector specific sustainability guidance, drawing upon its experience, processes, and global relationships;
• develop initial guidance focused on general disclosure requirements for sustainability-related information and climate-related disclosures; and
• approach guidance development at an accelerated pace, with a potential for releasing initial guidance by the end of 2023.

Comments on the consultation paper are requested by 9 September 2022.

Please see the IPSASB website for a press release as well as an access page for a video introduction, the consultation paper, a consultation overview, and an At a Glance summary.

Update - 23 September 2022 - The IPSASB has received strong overall engagement and feedback from stakeholders globally on the proposals in the consultation paper.  Further detail is provided in the IPSASB press release on the IPSASB website.

The meeting focused on an approach to ‘how the IASB might respond to feedback on its proposals on the accounting for regulatory assets and regulatory liabilities arising from differences between the recovery pace of the regulatory asset base and the assets’ useful lives’.

The meeting summary is available on the IFRS Foun­da­tion’s website.

As reported earlier, among the topics discussed at the meeting were the second review of the IFRS for SMEs and sustainability reporting.

The full list of topics discussed at the meeting was:

• Update on “Restoring trust in audit and cooperate governance”
  • Presentation by the FRC on the UK Government consultation
• Separate financial statements
  • Presentation by the KASB and continuation of discussions from previous IFASS meetings
• Non-current liabilities with covenants – Thoughts on the IASB exposure draft
  • Presentations by UKEB and MASB
• Disclosure initiative — Targeted standard-level review of disclosures
  • Presentation by EFRAG on its field testing of the proposals in the IASB exposure draft
• Supplier finance arrangements
  • Presentation by EFRAG
• Review of the IFRS for SMEs
  • Presentation by the IASB
• International financial reporting for non-profit organisations – IFR4NPO project update
• Sustainability-related reporting items
  • Strategic level update on the ISSB work (ISSB)
  • Update on EFRAG Project Task Force on European sustainability reporting standards (ANC)
  • Sustainability-related reporting (AASB)
  • General update on sustainability related reporting project in a specific jurisdiction (KASB)
  • Discussion on all sustainability-related reporting presentations
• PIR of IFRS 9 (classification and measurement)
  • Presentations by AASB, CASC, EFRAG, HKICPA, ICAI, and MASB
  • Break-out sessions
  • Plenary session with presentation of group discussions

The next meeting is to be held on 27-28 September 2022 in London.

Please click for the full report from the meeting.

The meeting will discuss the adoption of IFRS 17 Insurance Contracts. 

The meeting agenda and papers and details of how to register are available on the UKEB website. 

The meeting recording can be found on the UKEB website here.  

This volume includes agenda decisions on the following:

• IFRS 9 Financial Instruments.
• IFRS 16 Leases.
• IAS 7 Statement of Cash Flows.
• IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.

The IFRS Foun­da­tion initiated the com­pi­la­tion series in October 2019 and will continue it by pub­lish­ing new volumes bian­nu­ally in April and October. For more in­for­ma­tion, see the press release and com­pi­la­tion on the IASB website.

A summary of the agenda is set out below:

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

High­lights of the podcast include dis­cus­sions on:

• Decisions on the third agenda consultation project and the next step; 
• Analysis of feedback provided on the management commentary, post-implementation review of IFRS 9 — classification and measurement, and disclosure initiative — subsidiaries without public accountability projects;
• De­lib­er­a­tions in the primary financial statement and equity method projects;
• Research related to goodwill and impairment;
• Proposed amendments to the IFRS for SMEs Accounting Standard.

The podcast can be accessed through the press release on the IASB website.

Please click to view the detailed notes taken by Deloitte observers for the IASB meeting.

The scope of the project will be determined in conjunction with participants but is expected to cover:

• How companies define net zero and their pathway towards it (for example, types of emissions covered and whether offsets are used).
• Frameworks and accreditations used by companies for reporting.
• How companies set short-, medium- and long-term targets to achieve their net zero ambition and how they measure progress against those.
• How companies discuss the impact of transition on strategy and business model.
• How net zero targets are linked to remuneration.
• How investors use this information for decision making.

Tee deadline to register interest in 30 June.  Further details are available on the FRC website.