Pre-meeting summaries for the July IASB meeting

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12 Jul 2017

The IASB will meet at its offices in London on 18–19 July 2017. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

There are nine topics on the agenda.

Tuesday 18 June

The meeting starts in the afternoon with feedback on outreach the IASB staff have undertaken with investors and analysts in relation to the recently issued IFRS 17 Insurance Contracts.

The Board will discuss feedback on two of the proposed amendments included in the Annual Improvements to IFRS Standards 2015–2017 Cycle related to IAS 12 Income Taxes and IAS 23 Borrowing Costs. They will also discuss a possible amendment to IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

The day finishes with a session on Disclosure Initiative: Materiality Practice Statement. The staff are responding to comments received as a result of an external review of the draft practice statement. This session was originally scheduled for discussion in June.

Wednesday 19 June

The morning session is devoted to the proposed amendment to IFRS 9 on prepayment features with negative compensation. The Board will continue to discuss the feedback from comment letters. The staff are asking the Board to finalise the amendments, but with an effective date of 1 January 2019, rather than the originally proposed 1 January 2018, with earlier application permitted.

In the afternoon the Board will continue its discussions on rate-regulated activities, focusing on control and matching; and recognition and uncertainty.

The meeting concludes with another education session on possible revisions to the assessment of goodwill impairment, mainly focusing on feedback from outreach.

More information

Our pre-meeting summaries are available on our July meeting note page and will be supplemented with our popular meeting notes after the meeting.

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