The proposed changes reflect:

• common reporting practice relating to the presentation of financial instruments in digital financial statements prepared by banking institutions using IFRS Accounting Standards; 
• general improvements; and
• updates to the IFRS Accounting Taxonomy’s technology.

Details on the proposed changes are available in the press release on the IFRS Foundation website and in proposed update itself. Comments are requested by 5 January 2024.

This com­pi­la­tion includes three agenda decisions:

• Premiums Receivable from an Intermediary (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments).
• Homes and Home Loans Provided to Employees.
• Guarantee over a Derivative Contract (IFRS 9).

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

Trustees meeting

Meeting activities included the following:

• Reports of the Chair of the Trustees and the Managing Director
• Sustainability assurance
• Report of the Chair of the IASB
• Refreshing the IASB Strategy — 'Generation 3’
• Multi-location model
• Report of the Chair of the ISSB
• ISSB adoption strategy
• Update on funding of the ISSB and report of the Funding Committee
• Primary financial statements
• Structured approach for working with the global academic community
• IFRS Foundation Transitional Advisory Group
• Reports from the Trustee Committee meetings
• Stakeholder engagement
• Meeting with the Monitoring Board

DPOC meeting

Meeting activities included the following:

• IASB-related matters
  • Update on IASB technical activities
  • Due process ‘lifecycle’ review of the development of IFRS 18
  • IASB consultative groups — annual review
  • IASB and Interpretations Committee annual reporting protocol
  • Educational material on IFRS Accounting Standards — review of due process
• ISSB-related matters
  • Update on ISSB technical activities
  • ISSB Consultative Groups — annual review
  • ISSB annual reporting protocol
• Updating the Due Process Handbook
• Correspondence

For more information, see the summary of both meetings on the IFRS Foundation’s website.

Key proposals in IFRS Accounting Taxonomy — Proposed Update 2 include:

• Enhanced comparison of narrative information.
• Financial instruments based on common reporting practice.
• General improvements.
• Technology update.

Comments on the proposals are requested by 5 January 2024. For more information, see the press release on the IFRS Foundation’s website.

The video also explains why agenda decisions are important in supporting consistent application of the Accounting Standards, and why companies and others need to consider them when applying the Accounting Standards.

Please click to access the short video (3 minutes) on YouTube.

IPSAS 49 Retirement Benefit Plans is based on IAS 26 Accounting and Reporting by Retirement Benefit Plans and establishes comprehensive accounting and reporting requirements for the financial statements of retirement benefit plans, with participants comprising current and former public sector employees and other eligible members. In developing principles for the public sector, the private sector requirements in IAS 26 were adapted, based on experience from around the world, to ensure the unique characteristics of the public sector are reflected in the standard. In particular, the existing policy choices available in IAS 26 were reviewed and those removed that are not appropriate for the public sector or are inconsistent with existing IPSAS.

IPSAS 49 has an effective date of 1 January 2026 with earlier application permitted.

The following additional information is available on the IPSASB website:

• Press release
• Access to the new standard and an At a Glance summary

These insights will guide the ISSB's two-year work plan, with plans to finalize both initiatives in the first half 2024. The week included engagements with key stakeholders, such as the World Resources Institute and the Association of Certified Chartered Accountants, exploring the implementation of ISSB standards in China. ISSB Chair, Emmanuel Faber, highlighted global progress at the China Listed Companies Sustainable Development Conference, emphasizing a global-baseline of sustainability-related financial disclosure. The week culminated in the inaugural Beijing International Sustainability Conference, where leaders underscored the need for concerted action to align with ISSB standards.

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

Specif­i­cally, the podcast discusses:

• ISSB’s first meeting at its Beijing office and the first Beijing International Sustainability Conference.
• GRI’s Sustainability Innovation Lab.
• Foundational work keeping technical staff busy.
• Technical discussions at November board week.

For more in­for­ma­tion and access to the podcast, see the press release on the IFRS Foun­da­tion’s website.

The press release quotes the following statement by the banks, who are recognised for their vital role in fostering global economic development:

We welcome global initiatives to introduce sustainability reporting standards that complement existing financial reporting standards, and we support transparency and comparability of sustainability-focused disclosure, including the work of ISSB and the use of ISSB Standards by certain jurisdictions.

The IFRS Foundation expressed their gratitude for the continued collaboration with the multilateral development bank community towards shaping the introduction of global sustainability disclosure standards. The support of the community was instrumental in the prior introduction of IFRS Accounting Standards in regions such as Africa, South America, Eastern Europe and South East Asia.

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

The Board will discuss the following:

• IFRS 9 Amendments to classification and measurement
• Post-implementation review of IFRS 9 — Impairment
• Second comprehensive review of the IFRS for SMEs
• Equity method
• Business combinations under common control
• Provisions — Targeted improvements
• Primary financial ftatements
• Disclosure initiative — Subsidiaries without public accountability: Disclosures

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.