February

Agenda for March 2023 CMAC meeting

24 Feb, 2023

Representatives from the International Accounting Standards Board (IASB) will meet with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 9 March 2023. The agenda for the joint meeting has been released.

The full agenda for the meeting is sum­marised below:

Thursday, 9 March 2023 (09:00-15:00)

  • Welcome
  • IASB and ISSB update
  • Primary financial state­ments
    • Transition and the effective date of the forthcoming IFRS Accounting Standard General Presentation and Disclosures;
    • Expected benefits and costs for users of financial statements to help develop the Effects Analysis that will be published with the Accounting Standard.
  • Business Combinations — Disclosures, Goodwill and Impairment
    • Impairment test of cash-generating units containing goodwill
  • Equity Method
    • IASB tentative decisions
    • Account for gains and losses from transactions with an associate

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

Agenda for the February 2023 ITCG meeting

20 Feb, 2023

The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be in hybrid format on 27-28 February 2023.

The ITCG will discuss the following topics:

  • IASB digital financial reporting strategy update
  • IFRS Accounting Taxonomy
    • digital representation of subtotals and categories in the statement of financial performance
    • feedback on IFRS Accounting Taxonomy 2022 Proposed Update 1
    • financial instruments common practice review
  • IFRS Sustainability Disclosure Taxonomy
    • general update
    • facilitating use in jurisdictions which do not permit extensions

The agenda papers for this meeting are available on the IASB website.

Agenda for the February 2023 IFRS Advisory Council meeting

17 Feb, 2023

An agenda has been released for the upcoming meeting of the IFRS Advisory Council which will be held by remote participation on 22 February 2023.

A summary of the agenda is set out below:

Wednesday 22 February 2023 (13:00-14:30)

  • Welcome and Chair's preview
  • Updates on the ISSB’s Activities
  • Chair’s closing remark

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

Agenda for the March 2023 DPOC meeting

24 Feb, 2023

The Due Process Oversight Committee (DPOC) will hold its 1 March 2023 in Tokyo, Japan.

The agenda for the DPOC meeting is sum­marised below.

Wednesday, 1 March 2023

  • Mon­i­tor­ing com­pli­ance with due process:
  • Update reports on IASB, IFRS Interpretations Committee and ISSB activities
  • Developing due process procedures
    • SASB Standards taxonomy due process
  • DPOC matters
    • Interim approach to ISSB taxonomy consultative group
    • DPOC correspondence — update since papers distributed
    • Summary

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

Agenda for the March 2023 GPF meeting

20 Feb, 2023

Representatives from the International Accounting Standards Board (IASB) will meet with the Global Preparers Forum (GPF) in a hybrid meeting on 3 March 2023. The agenda for the meeting has been released.

The full agenda for the meeting is summarised below:

Friday, 3 March 2023 (10:00-16:45)

  • Welcome and introductions
  • Primary financial statements
    • transition and the effective date of the forthcoming standard
    • expected benefits and costs for preparers of financial statements
  • IASB and IFRS Interpretations Committee Update
  • Business combinations – Disclosures, goodwill and impairment
    • ideas for changes to the impairment test of cash-generating units containing goodwill
  • Disclosure initiative — Subsidiaries without public accountability: Disclosures
    • IFRS 7 and IFRS 12 reduced disclosures
    • expected benefits and costs for preparers of financial statements
  • ISSB Update

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

Agenda papers available for the UK Endorsement Board ad hoc Public Meeting on 7 March 2023

03 Mar, 2023

The meeting agenda and papers for the UK Endorsement Board (UKEB) ad hoc public meeting on 7 March 2023 are available.

The agenda items to be discussed are as follows: 

  • International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12): Final Comment Letter.
  • Regulatory Strategy 2023/24.

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

    Update 9 March 2023: a recording of this meeting is available here.

    Agenda papers available for the UK Endorsement Board Public Meeting on 23 February 2023

    21 Feb, 2023

    The meeting agenda and papers for the UK Endorsement Board (UKEB) meeting on 23 February 2023 are available.

    The agenda items to be discussed are as follows: 

    • IAS 1 Presentation of Financial Statements Narrow-scope Amendments 2020 and 2022: Draft Endorsement Criteria Assessment
    • International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12): Project Initiation Plan and Draft Comment Letter 
    • IASB General Update
    • ISSB General Update
    • Climate Related Risks: Project Initiation Plan
    • Intangibles Qualitative Research: Final Report  
    • Advisory Groups Updates

    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 the UKEB website on 2 March 2023.

    Deloitte Partner appointed Acting EFRAG FR TEG Chair

    24 Feb, 2023

    The European Financial Reporting Advisory Group (EFRAG) has announced the new composition of its Financial Reporting Technical Expert Group (EFRAG FR TEG).

    Deloitte Partner Jens Berger, Head of Deloitte’s Frankfurt IFRS and Corporate Reporting Centre of Excellence, has been appointed Acting EFRAG FR TEG Chair. EFRAG is currently looking for a new EFRAG FR TEG Chair, as the former Chair has become Chair of EFRAG's Sustainability Reporting TEG.

    Please click to access the announcement on the EFRAG website.

    EFRAG conference "Where is Corporate Reporting heading?" — Report and recordings

    16 Feb, 2023

    On 7 December 2022, the European Financial Reporting Advisory Group (EFRAG) hosted a conference to debate the new trends in corporate reporting following the Environmental, Social and Governance (ESG) revolution and the connectivity with financial reporting.

    High-level speakers from the financial and sustainability reporting sectors provided their views and share thoughts during three panel discussions on major topics:

    • Connectivity: Financial and sustainability in corporate reporting
    • Financial Reporting: Challenges ahead
    • Sustainability Reporting: Trendsetting the future of corporate reporting

    Two of the keynote speeches were provided were by the IASB and ISSB Chairs.

    A report from the conference as well as recordings can be accessed through the press release on the EFRAG website.

    EFRAG issues final endorsement advice on Amendments to IFRS 16

    01 Feb, 2023

    The European Financial Reporting Advisory Group (EFRAG) has issued its final endorsement advice letter relating to the use in the European Union (EU) of 'Lease Liability in a Sale and Leaseback' (Amendments to IFRS 16) (‘the Amendments’).

    The Amendments specify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 Revenue from Contracts with Customers to be accounted for as a sale.

    EFRAG recommends the endorsement of the Amendments. EFRAG’s assessment is that the Amendments meet all the technical endorsement criteria of the IAS Regulation and are conducive to the European public good.

    A press release and the endorsement advice letter to the European Commission are available on the EFRAG website. EFRAG has also updated its endorsement status report.

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