Report on the spring 2023 IFASS meeting

  • IFASS (International Forum of Accounting Standard Setters) (dark green) Image

19 Jun, 2023

A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in Norwalk and by remote participation on 19-21 April 2023.

As reported earlier, among the topics discussed was the connectivity between financial reporting and sustainability reporting — discussed by IASB/ISSB and discussed by AASB/UKEB/AcSB.

The full list of topics discussed at the meeting was:

  • Presentation on connectivity (IASB, ISSB)
  • IASB Update
  • IFRS 9 Amendments to classification and measurement (IASB, break-out sessions)
  • Public sector and not-for-profit updates (Australian NFP Financial Reporting Framework, CIPFA, IPSASB)
  • Application of Malaysian Financial Reporting Standards to Islamic Social Finance Transactions
  • Primary Financial Statements: Disaggregation of expenses (EFRAG, FASB, IASB)
  • Australia's roadmap to sustainability reporting: climate-first approach (AASB)
  • ISSB update
  • ESRS update (EFRAG)
  • GRI framework
  • Sustainability reporting (CSSB, European Commission, KSSB, Sudanese Association of Chartered Accountants, XRB, ISSB)
  • Connectivity between financial and sustainability reporting (AASB, AcSB, UKEB, EFRAG, FRC)
  • Digital assets (AASB, AcSB, FASB)
  • Jurisdictional financial reporting priorities and updates (AOSSG, PAFA, FRC, FASB, GLASS)
  • Intangibles (AASB, EFRAG, GLASS, UKEB)

The next meeting will be held on 26-27 September 2023 in London.

Please click for the full report from the meeting.

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