The full agenda for the meeting is summarised below.

The agenda for the DPOC meeting is sum­marised below.

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

The IRCC will receive an update on the (joint) work of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB).

In addition, the IRCC will review a comparison between Management Commentary and Integrated Reporting. Key observations from the initial analysis are:

• Management commentary and integrated reports have similar objectives, providing investors with insights for assessing an entity’s prospects. Sometimes integrated reports are adapted to meet information needs of other audiences.
• The management commentary exposure draft and the IR Framework incorporate similar principles and notions of value creation. An entity’s ‘resources and relationships’ or ‘capitals’ play a prominent role in both documents.
• The requirements specified in the management commentary exposure draft and the IR Framework should result in similar information being provided in the reports. However, the way in which the requirements are specified can be different.

Please click for the meeting agenda and papers on the IFRS Foundation website.

The agenda items to be discussed are as follows:

• Lease Liability in a Sale and Leaseback — Narrow-scope Amendments to IFRS 16—Adoption Package
• IFRS 9 Impairment Post-implementation Review – Project Initiation Plan
• IFRS 9 Amendments to the Classification & Measurement of Financial Instruments – Project Initiation Plan
• Primary Financial Statements–General Update
• IASB General Update
• Climate-Related Matters: Summary of Connectivity Research
• Connectivity – Update on analysis of 2022 annual reports
• Connectivity – UKEB Staff Paper: Liabilities and provisions
• Advisory Groups Updates
• Items to note

The meeting agenda and papers and details of how to register are available on the UKEB website.  A recording of the meeting was made available on 4 May 2023 and is available on the UKEB website here.

The Board will discuss the following:

• Business combinations under common control
• Post implementation review of IFRS 9
• Dynamic risk man­age­ment
• Provisions
• Rate-reg­u­lated ac­tiv­i­ties
• Main­te­nance and con­sis­tent ap­pli­ca­tion
• International tax reform — Pillar two model rules (Amendments to the IFRS for SMEs Accounting Standard)
• Disclosure initiative — Subsidiaries without public accountability: Disclosures
• Financial instruments with characteristics of equity
• Equity method

The full agenda for the meeting can be found here. We will post any updates to the agenda, our com­pre­hen­sive pre-meet­ing summaries, as well as observer notes from the meeting on this page as they become available.

The full agenda for the meeting can be found here. We will post any updates to the agenda, our com­pre­hen­sive pre-meet­ing summary, as well as observer notes from the meeting on this page as they become available.

The following topic was discussed:

• International Tax Reform—Pillar Two Model Rules: In January 2023, the IASB published the Exposure Draft (ED) International Tax Reform—Pillar Two Model Rules, which proposed amendments to IAS 12. The comment period ended on 10 March 2023. The purpose of this meeting was for the IASB to consider the feedback on the ED and decide on how to proceed with the proposals. The IASB decided to finalise an amended version of the proposals. The amendments will be effective immediately and will need to be applied retrospectively. However, the amendments do not apply to any interim financial periods ending in 2023. The staff expect that the amendments will be published in May 2023.

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

The full agenda for the meeting can be found here. We will post any updates to the agenda, our comprehensive pre-meeting summaries, as well as observer notes from the meeting on this page as they become available.

The following topics were discussed:

ISSB Consultation on Agenda Priorities: ISSB members confirmed that mandatory due process steps have been completed for the Request for Information (RFI). They decided on a comment period of 120 days for the RFI and approved the publication of the RFI, expected in May 2023.

International Applicability of the SASB Standards: The ISSB ratified the Exposure Draft (ED) Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates and agreed a comment period of 90 days. The ISSB confirmed that it is satisfied that all required due process steps have been completed for publication of the ED, which is expected in May 2023. 

Please click to access the detailed notes taken by Deloitte observers for the entire meeting.

General Sustainability-related Disclosures: The ISSB decided to grant an optional relief that allows companies applying the ISSB Standards to phase in their approach to sustainability-related disclosure, beginning with climate-related risks and opportunities in the first year of reporting. For companies using the proposed relief, the full reporting on sustainability-related risks and opportunities (beyond just climate) would be provided from the second year. The ISSB also tentatively decided that if an entity uses this transition relief, it would be required to disclose that fact, and could extend the previously agreed transition relief in IFRS S1 related to disclosing comparative information such that the entity would not be required to disclose comparative information related to its other sustainability-related financial information in the first year it discloses that information.

Please click to access the detailed notes taken by Deloitte observers for the entire meeting.