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Notes from day 2 of the February 2013 IFRS Advisory Council meeting

  • international meeting notes Image

Feb 26, 2013

The IFRS Advisory Council met in London on February 25 and 26, 2013. Deloitte observer notes are posted from the second day of the meeting. The discussions included a review of the Due Process handbook, an outlining of the IASB's XBRL initiative, a high-level summary of the preliminary results of a survey on the use of IFRSs globally, an EFRAG presentation of the preliminary feedback analysis of the comments received on the discussion paper on disclosure framework, recent IASB activities in disclosure framework, and limited amendments to IFRS 9.

The IFRS Advisory Council also expressed its concerns about the state of the impairment project. There were mixed opinions on which direction the IASB should take in the development of its standard. Some council members were in favor of a converged solution with the FASB, while others wanted an IFRS issued to avoid further delay and have convergence efforts continue in parallel.

Click to access the preliminary and unofficial notes taken by Deloitte observers during the first day of the meeting.

The next IFRS Advisory Council meeting is in London on June 10 and 11, 2013.

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