Report on the October IFRS Advisory Council meeting
07 Nov 2013
A report on the IFRS Advisory Council meeting, held in London on 14-15 October 2013, has been made available by the IASB.
The main topics discussed include:
- Updates on the IASB’s and Trustees’ activities.
- Updates on the Monitoring Board.
- IFRS application in Japan.
- Role and composition of the Council.
- Implementation and maintenance activities.
- Conceptual Framework project.
- Interaction of International Valuation Standards and IFRS.
- Effects Analysis.
- Post-implementation Review of IFRS 3.
- Use of IFRS around the world.
- Leases project.
In particular, the report highlighted that the Council emphasised the importance of a converged solution regarding impairment, deferred the decision on how to proceed with the leases project to its February 2014 meeting, stressed the need to be cautious with the implementation and maintenance activities of IFRS, and continued support for the effect analysis initiative.
The full report on the IFRS Advisory Council meeting is available on the IASB Web site.