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Pre-meeting summaries for the November IASB meeting

  • IASB meeting (blue) Image

06 Nov 2017

The IASB will meet at its offices in London on 14 November 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 four topics on the agenda.

Tuesday 14 November 

The meeting starts with a continuation of the discussion on the Primary Financial Statements. There are three topics at this meeting: presentation of an investing category in the statement(s) of financial performance; definition of finance income/expenses; and better ways to communicate other comprehensive income.

The second topic is a proposal to add a new project called Wider Corporate Reporting. The focus of the project would be a review of the Practice Statement issued in 2010 on Management Commentary. The staff are recommending that the IASB update the Practice Statement to help address the lack of alignment and integration between wider corporate reporting and financial reporting.

The Board published Exposure Draft Improvements IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) in March 2017. The IASB will discuss a summary of the feedback received and the areas the staff think might warrant further analysis. Respondents had mixed views on the proposals. The three main areas the staff plan to focus on in analysing the feedback are the proposed clarifications to help identify the CODM;  linking IFRS 8 segments with other parts of the annual reporting package; and clarifications to the criteria for aggregating segments.

The meeting finishes with a discussion of Dynamic Risk Management. The Staff will present the Board with the objectives of the proposed model for dynamic risk management and an outline of the proposed model. The focus of the model is to reflect how financial institutions manage the dynamic net interest margin resulting from typical banking book assets and liabilities by using derivatives to align the asset profile with the target net interest margin profile.  The staff are recommending that the Board develop a cash flow hedge accounting model for accounting for dynamic risk management.

More information

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

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