The full agenda for the meeting is sum­marised below:

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

A summary of the agenda is set out below:

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

The ITCG will discuss the following topics:

• IFRS Accounting Taxonomy
  
  • primary financial statements project update and digital representation of management performance measures
• IFRS Sustainability Disclosure Taxonomy
  • general update
• IFRS Accounting Taxonomy
  
  • general improvements, common practice and technology update

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

A summary of the agenda is set out below:

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

The only topic the SCC will discuss is the ISSB agenda consultation, with one hour reserved for a questions and answer session.

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

The SMEIG will discuss the following topics:

• Second comprehensive review of the IFRS for SMEs
  • Feedback from comment letters on exposure draft
    • Proposed amendments to the IFRS for SMEs
    • Topics for which amendments were not proposed
  • Outreach feedback summary
  • Proposed revised Section 23 Revenue from Contracts with Customers
• International tax reform — Pillar two model rules — Proposed amendments to the IFRS for SMEs
  • Comments on the IASB's proposals for an urgent amendment
  • Exposure draft itself

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

The agenda items for discussion are as follows:

• International Tax Reform - Pillar Two Model Rules (Amendments to IAS 12): Draft Endorsement Criteria Assessment
• Non-current Liabilities with Covenants (Amendments to IAS 1 2020 and 2022) - Feedback on Draft Endorsement Criteria Assessment
• ISSB Request for Information - Draft Comment Letter
• Post-implementation Review of IFRS 15 - Project Initiation Plan
• Primary Financial Statements
• Provisions - Targeted Improvements
• IASB General Update
• A study in Connectivity: Analysis of 2022 Annual Reports - Final Report 
• Climate-related Matters: Summary of Connectivity Research

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

Update 30 June 2023 - a recording of the meeting is available on the UKEB website here.

The research areas of interest are:

• Research on practical IPSAS implementation challenges 
  • Natural resources
  • Presentation of financial statements
• Sustainability reporting focused research 
  • Climate change and public sector reporting qrelated to sustainability
  • Accounting for biodiversity in the public sector
• Research on adoption and implementation of specific IPSAS
  • IPSAS 31 Intangible Assets
  • IPSAS 33 First-Time Adoption of Accrual Basis IPSAS
  • IPSAS 42 Social Benefits

Please click for more information and the call for papers on the IPSASB website.

In its draft comment letter EFRAG suggests that the ISSB puts the emphasis on:

• a clear direction of travel with a definition of the universe of sustainability-related information to be ultimately covered and of the corresponding underlying concepts;
• the priority to be given to interoperability in structure and content with other sustainability reporting standards; and
• connectivity to be included as a priority topic in the standard setting workplan, together with the topical standards.

EFRAG considers that the priority of the ISSB should be:

1. the beginning of new research and standard-setting projects including connectivity between financial reporting and sustainability reporting.
2. supporting the implementation of ISSB Standards IFRS S1 and IFRS S2 and researching targeted enhancements to the ISSB Standards.
3. to enhance the Sustainability Accounting Standards Board (SASB) Standards.

In selecting projects, EFRAG recommends the ISSB to clarify the criterion "importance of the matter to investors" and explicitly integrate the investors’ interest in impact materiality. 

EFRAG considers that a project on connectivity (not integration in reporting) should be given a high priority to develop guidance on connected information.  Further should the ISSB begin a project on integration in reporting, EFRAG agrees with incorporating concepts from the International Accounting Standards Board's (IASB's) project on Management Commentary and the Integrated Reporting Framework.

Comments on EFRAG's draft comment letter are requested by 25 July 2023. Further details are available in the press release and draft comment letter on the EFRAG website.

The update reports on the EFRAG Financial Reporting Board (EFRAG FRB) and EFRAG Sustainability Reporting Board (SRB) meeting on 3 May 2023, the EFRAG FRB webcast meeting on 3 May 2023, the EFRAG Financial Reporting Technical Expert Group (FR TEG) and EFRAG User Panel meeting on 10 May 2023, and the EFRAG FR TEG meeting on 11 May 2023, 

The update also lists EFRAG publications issued in May including: 

• EFRAG's draft Comment Letter in response to the IASB's Exposure Draft ED/2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7).
• EFRAG's academic study: The production and consumption of information on intangibles: An empirical investigation of preparers and users.
• EFRAG's draft Comment Letter to the ISSB’s Exposure Draft: Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates.

The update also covers EFRAG's sustainability reporting and related activities.

Please click to download the May 2023 EFRAG Update from the EFRAG website.