February

Summary of the November 2021 Islamic Finance Consultative Group meeting

01 Feb, 2022

The IASB has published a summary of the Islamic Finance Consultative Group (IFCG) meeting held on 30 November 2021.

The IFCG discussed the following:

  • Post-implementation of IFRS 9
  • IFRS 17 and Takaful
  • IASB Technical Update

For more in­for­ma­tion, see the summary on the IASB’s website.

IFRS Foundation consolidates the CDSB from CDP

01 Feb, 2022

The IFRS Foundation, CDP and the Climate Disclosure Standards Board (CDSB) have completed the consolidation of the CDSB into the IFRS Foundation. Resources from the CDSB will transfer to the IFRS Foundation and provide intellectual property and technical assets which will support the International Sustainability Standards Board (ISSB).

This marks the completion of the first of two organisations to consolidate into the IFRS Foundation with the other, Value Reporting Foundation, expected to consolidate by June 2022. Also noted was that the CDSB Framework, recent technical guidance on water, biodiversity and social disclosures, and other resources will remain applicable until the ISSB publishes its IFRS Sustainability Disclosure Standards.

For more information, see the press release on the IFRS Foundation’s website.

EFRAG publishes feedback statement on the IASB ED/2021/06 Management Commentary

01 Feb, 2022

The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on the International Accounting Standard Board’s (IASB's) Exposure Draft “ED/2021/06 Management Commentary”.

EFRAG published its Final Comment Letter in December 2021. 

The Feedback Statement summarises constituent's feedback on EFRAG's draft comment letter relating to the proposals in the ED and explains how this feedback was considered by EFRAG in reaching a final position on the proposals.

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

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