Report of the IASB Chair

Date recorded:

Noting his report to the Monitoring Board, Mr. Hoogervorst deferred to his Senior Technical Directors to provide a bit more colour on aspects of the IASB’s technical activities.

Alan Teixeira highlighted the IASB’s outreach activities on Disclosure. The IASB would be issuing a Feedback Statement summarising this outreach and was considering some short-term measures that it might undertake to remove perceived ‘impediments’ to improving financial reporting. The IASB staff would be working with the accounting networks, securities regulators and others to determine how it might provide application guidance on the application of materiality to disclosure.

Dr. Teixeira noted the Accounting Standards Advisory Forum was seen as an important body, but not the only means of connecting with standard-setters. As an example of this, in the margins of the meeting of the International Forum of Accounting Standard-Setters, being held during the week of 15 April 2013, he would be meeting with 35 Technical Directors of national standard-setters to discuss bilateral cooperation on various projects/ activities.

Sue Lloyd reviewed various aspects of the major technical projects (no new information was given).

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