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Pre-meeting summaries for the June 2023 IFRS Interpretations Committee meeting
02 Jun 2023
The IFRS Interpretations Committee (Committee) meets on 6–7 June 2023. The IFRS IC will hold discussions on two new items, one follow-up discussion on a previous matter and will input on two IASB projects.
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ISSB webcast highlights consultation on next two-year work plan
01 Jun 2023
The ISSB technical staff recently conducted a webcast to shed light on the ongoing consultation regarding ISSB's upcoming two-year work plan. The webcast aims to engage stakeholders and gather valuable insights for the future agenda of the board.
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Updated IASB and ISSB work plan — Analysis (May 2023)
01 Jun 2023
Following the IASB's and ISSB's May 2023 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in April 2023.
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IASB publishes proposed amendments to the IFRS for SMEs regarding the OECD pillar two model rules
01 Jun 2023
The International Accounting Standards Board (IASB) has published an exposure draft 'International Tax Reform — Pillar Two Model Rules (Proposed amendments to the 'IFRS for SMEs' Standard)' to align the standard's requirements with similar amendments to IAS 12 'Income Taxes' issued last month. Comments are requested by 17 July 2023.
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May 2023 IASB meeting notes posted
31 May 2023
The IASB met in London on 22–24 May 2023. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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IASB issues podcast on latest Board developments (May 2023)
30 May 2023
The IASB has released a podcast featuring IASB Chair Andreas Barckow and Executive Technical Director Nili Shah discussing deliberations at the May 2023 IASB meetings.
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June 2023 IFRS Interpretations Committee meeting agenda posted
30 May 2023
The IFRS Interpretations Committee has posted the agenda for its next meeting, which will be held on 6–7 June 2023.
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IASB publishes second request for information on the post-implementation review of IFRS 9
30 May 2023
The International Accounting Standards Board (IASB) has issued a request for information (RFI) seeking comments from stakeholders to identify whether the impairment requirements in IFRS 9 'Financial Instruments' provide information that is useful to users of financial statements; whether there are requirements that are difficult to implement and may prevent the consistent implementation of the standard; and whether unexpected costs have arisen in connection with applying or enforcing the standard.
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Chair of the Trustees speaks at EAA Conference
28 May 2023
Erkki Liikanen, Chair of the IFRS Foundation Trustees, spoke at the he European Accounting Association Conference about relationships between the IFRS Foundation, its standard-setting boards, and the academic community around the world.
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IASB publishes amendments to IAS 7 and IFRS 7 regarding supplier finance arrangements
25 May 2023
The International Accounting Standards Board (IASB) has published 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' to add disclosure requirements, and ‘signposts’ within existing disclosure requirements, that ask entities to provide qualitative and quantitative information about supplier finance arrangements.
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Agenda for the June 2023 IFRS Advisory Council meeting
02 Jun 2023
An agenda has been released for the meeting of the IFRS Advisory Council that will be held via video conference on 8 June 2023.
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Due Process Oversight Committee hold May 2023 meetings
31 May 2023
The Due Process Oversight Committee (DPOC) met on 4 May 2023 via video conference. A summary of the meeting is now available.
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Agenda for the May 2023 Islamic Finance Consultative Group meeting
28 May 2023
An agenda has been released for the meeting of the Islamic Finance Consultative Group that will be held virtually and in London on 31 May 2023.
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Updated IPSAS-IFRS alignment dashboard
17 May 2023
The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.
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Summary of the March 2023 CMAC meeting
16 May 2023
Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 9 March 2023. Notes from the meeting have now been released.
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Webcast on the equity method project
16 May 2023
Following its recent decision to move the equity method of accounting project from the research agenda to the standard-setting agenda, the IASB has released a webcast offering some background on the project.
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Online workshop on the post-implementation review of IFRS 9
11 May 2023
On 30 June 2023, the International Accounting Standards Board (IASB), the European Acounting Association (EAA), and the European Financial Reporting Advisory Group (EFRAG) will offer a joint virtual research workshop.
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Report on the April 2023 IFRS Advisory Council meeting
10 May 2023
A summary report has been released of the meeting of the IFRS Advisory Council held in London on 4–5 April 2023.
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IPSASB guidance on sustainability programme information
10 May 2023
In light of the urgent need for sustainability reporting guidance for the public sector, the International Public Sector Accounting Standards Board (IPSASB) has issued 'Reporting Sustainability Program Information — Amendments to RPGs 1 and 3: Additional Non-Authoritative Guidance'.
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EFRAG draft comment letter on the IASB’s proposed amendments to classification and measurement of financial instruments
05 May 2023
The EFRAG has issued a draft comment letter on the IASB’s proposed amendments to the classification and measurement of financial instruments. Overall, the EFRAG welcomes the IASB’s proposed amendments, particularly the clarifications to the general solely payments of principal and interest (SPPI) requirements, which the EFRAG says would provide a good basis for evaluating whether contractual cash flows of financial assets with ESG-linked or similar features meet SPPI requirements.
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iGAAP in Focus — Financial reporting: IASB seeks views on the post-implementation review of the IFRS 9 impairment requirements
published 02 Jun 2023
This iGAAP in Focus outlines the Request for Information (RFI) Post-implementation Review of IFRS 9 — Impairment, published by the International Accounting Standards Board (IASB) in May 2023.
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Deloitte comment letter on TNFD Beta Framework
published 02 Jun 2023
We have commented on the Taskforce on Nature-related Financial Disclosures (TNFD) – Feedback on v0.4 of the TNFD Beta Framework.
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EFRAG endorsement status report 30 May 2023
published 30 May 2023
The endorsement status report has been updated to reflect that the IASB has published amendments to IAS 7 and IFRS 7 (adds disclosure requirements, and ‘signposts’ within existing disclosure requirements, that ask entities to provide qualitative and quantitative information about supplier finance arrangements) and IAS 12 (addressed to stakeholders’ concerns about the potential implications of the imminent implementation of the OECD pillar two model rules on the accounting for income taxes).
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Financial Reporting Alert 23-4, Financial Reporting and Accounting Considerations Related to the Current Commercial Real Estate Macroeconomic Environment
published 30 May 2023
This Financial Reporting Alert summarizes some of the challenges faced by commercial real estate entities — as well as by investors and lenders with assets backed by commercial real estate — in the current macroeconomic environment.
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iGAAP in Focus — Financial reporting: IASB amends IAS 7 and IFRS 7 to address supplier finance arrangements
published 30 May 2023
This iGAAP in Focus outlines the amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures titled Supplier Finance Arrangements, published by the International Accounting Standards Board (IASB) in May 2023.
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iGAAP in Focus — Financial reporting — IASB amends IAS 12 to introduce a temporary exception from accounting for deferred taxes arising from OECD Pillar Two model rules
published 28 May 2023
On 23 May 2023, the IASB published 'International Tax Reform — Pillar Two Model Rules (Amendments to IAS 12)' to respond to stakeholders’ concerns about the potential implications of the imminent implementation of the OECD pillar two model rules on the accounting for income taxes. This newsletter outlines the amendments.
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On the Rader — Derivatives
published 18 May 2023
This publication briefly summarizes key issues and developments related to derivative accounting, including the identification, recognition, and measurement of derivatives instruments, including embedded derivatives.
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Roadmap: Derivatives (2023)
published 18 May 2023
The inaugural edition of this Roadmap provides a comprehensive discussion of the guidance in ASC 815 on the identification, classification, measurement, and presentation and disclosure of derivative instruments, including embedded derivatives.
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Deloitte comment letter on tentative agenda decision on homes and home loans provided to employees
published 18 May 2023
We have commented on the IFRS Interpretations Committee's publication in the March 2023 IFRIC Update of the tentative agenda decision not to take onto the Committee’s agenda the request about how an entity accounts for employee home ownership plans and employee home loans.
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Deloitte comment letter on tentative agenda decision on guarantee over a derivative contract
published 18 May 2023
We have commented on the IFRS Interpretations Committee's publication in the March 2023 IFRIC Update of the tentative agenda decision not to take onto the Committee’s agenda the request about whether, in applying IFRS 9, an entity accounts for a guarantee written over a derivative contract as a financial guarantee contract or a derivative.
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IFRS Interpretations Committee meeting — 6–7 June 2023
Start: 06 Jun 2023 - End: 07 Jun 2023
The IFRS Interpretations Committee will meet on 6–7 June 2023.
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IASB Meeting — 22–24 May 2023
Start: 22 May 2023 - End: 24 May 2023
The IASB met in its offices in London on 22–24 May 2023.
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ISSB Meeting — 18 May 2023
Start: 18 May 2023 - End: 18 May 2023
The ISSB met on 18 May 2023 in London.
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IASB Meeting — 3 May 2023 (Supplementary)
Start: 03 May 2023 - End: 03 May 2023
The IASB met in a hybrid format on 3 May 2023.
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IASB Meeting — 25–27 April 2023
Start: 25 Apr 2023 - End: 27 Apr 2023
The IASB met in its offices in London on 25–27 April 2023.
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ISSB Meeting — 19 April 2023
Start: 19 Apr 2023 - End: 19 Apr 2023
The ISSB met on 19 April 2023 in Frankfurt.
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IASB Meeting — 11 April 2023 (Supplementary)
Start: 11 Apr 2023 - End: 11 Apr 2023
The IASB met virtually on 11 April 2023.
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ISSB Meeting — 4 April 2023 (Supplementary)
Start: 04 Apr 2023 - End: 04 Apr 2023
The ISSB met on 4 April 2023 via video conference.
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IASB Meeting — 20–23 March 2023
Start: 20 Mar 2023 - End: 23 Mar 2023
The IASB met in its offices in London on 20–23 March 2023.
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ISSB Meeting — 16 March 2023
Start: 16 Mar 2023 - End: 16 Mar 2023
The ISSB met on 16 March 2023.