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IASB meeting — 20–22 October 2015

Start date:

End date:

Location: London

IASB (International Accounting Standards Board)

The International Accounting Standards Board (IASB) met at its offices in London on 20–22 October 2015. This meeting features discussions on:

  • Leases — the staff recommends an effective date of 1 January 2019 and permitted early application (only in conjunction with the new revenue standard) and a final standard is still expected in December 2015, although there are a few sweep issues.
  • Insurance — the staff recommends a shortened comment period of 60 days (subject to approval by the Trustees’ Due Process Oversight Committee (DPOC) which is meeting in Beijing next week); an exposure draft is expected in December this year.
  • Disclosure initiative — the Board will revisit cash restrictions (disincentives), however, the Board agreed at its September meeting that it would go forward with the project even if it cannot agree on this subject (which would then be moved to Principles of disclosure project).
In addition, the IASB will discuss pollutant pricing mechanism (education session); impairment transition group update; financial instruments with characteristics of equity; insurance and IFRS 9; IFRS implementation issues; goodwill and impairment; and the definition of a business.

Agenda for the meeting


Tuesday, 20 October 2015

Afternoon session (15:00–17:45)

  • Leases — sweep issues and effective date
  • Pollutant pricing mechanisms (education session)

Wednesday, 21 October 2015

Morning session (09:00–13:00)

  • Update on Impairment Transition Group — Current status and issues raised at its September ITG meeting
  • Financial instruments with characteristics of equity — Derivatives on own equity.
  • Disclosure initiative — Cash restrictions

Afternoon session (14:00–17:00)

  • Insurance contracts — Should the mirroring approach be retained?
  • Insurance and IFRS 9 — Setting comment letter period and considering the applicability of the deferral and overlay approaches for first-time adopters of IFRS

Thursday, 22 October 2015

Morning session (09:00–12:00)

  • IFRS implementation issues — Issues arising from the September IFRIC meeting
  • Goodwill and impairment

Afternoon session (13:00–14:30)

  • Definition of a business

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

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