Inaugural ASAF meeting notes
11 Apr 2013
Deloitte observer notes are now available for the inaugural Accounting Standards Advisory Forum meeting held in London on 8-9 April 2013. The meeting included discussions on the IASB's conceptual framework project and summaries on the IASB and FASB Impairment projects.
The assessment of our Deloitte observer was that the overall tone of this meeting was positive, collaborative and constructive. Personalities did not get in the way, but that did not preclude lively and pointed discussions. Although it is difficult to extrapolate on the basis of one meeting, it did seem that ASAF members brought their richly diverse experience to the table with a shared objective of helping the IASB develop high-quality products—in this case a Framework that would support standard-setting and be informed by it for some time to come.
A listing of the topics discussed at the meeting follows (click through to access detailed Deloitte observer notes for each topic):
Monday 8 April (11:05-16:00)
- Introduction and Signing of the Memorandum of Understanding
- Conceptual Framework:
- Measurement
- Performance and Other Comprehensive Income (OCI)
Tuesday 9 April (09:00-16:00)
- Conceptual Framework:
- Uncertainty components of elements
- Open session to raise issues
- Impairment
- Summary/Any other business/Wrap up
You can also access the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.
