This webcast is hosted by IASB Board member Darrel Scott and address four implementation questions raised by stakeholders.

The webcast is available on the IFRS 16 im­ple­men­ta­tion page on the IASB’s website.

EFRAG supports the IASB proposals as regards aligning the definition of 'material' in the Conceptual Framework and in the IFRSs and as regards replacing the threshold ‘could influence’ with ‘could reasonably be expected to influence’. However, EFRAG suggests defining 'material' information more directly as information that can reasonably be expected to influence the economic decisions that the primary users of financial statements make.

Comments on EFRAG's draft comment letter are requested by 5 January 2018. For more information, see the press release and the draft comment letter on the EFRAG website.

The research outlines the principal elements of the 28 Member States’ laws, and will provide insight on the direction non-financial reporting is headed in Europe. The 22 November event will address how the implementation of the Directive can positively contribute to the integration of sustainability factors into companies.

Please click for more information and registration on the Accountancy Europe website.

We do not agree with the proposed amendment to IAS 16 and share many of the concerns expressed in the Alternative View on the exposure draft and believe that the proposed amendments will likely have an effect primarily on entities in the energy and extractives industries, where construction of an asset can be a lengthy and complex process with many costs (including those of testing) attributable to bringing the asset to the condition necessary for it to be capable of operating in the manner intended by management.

We recommend that a thorough consideration of the issues arising from such activities (for example, the unit of account for property, plant and equipment relating to a large mining development and the point at which such an asset is determined to be available for use) and similar issues arising in other industries is necessary prior to making amendments to specific IFRSs as a very limited scope amendment such as the one proposed in the exposure draft cannot address those issues and carries the risk of unintended consequences. 

Please click to access the full comment letter.

The podcast features dis­cus­sions of the following topics:

• Ma­te­ri­al­ity practice statement.
• Primary financial statements project.
• Education sessions on rate-reg­u­lated ac­tiv­i­ties, business combinations under common control and dynamic risk management.
• Conceptual framework.
• Maintenance of IFRSs by the IFRS Interpretation Committee.
• Upcoming events.

The podcast can be accessed through the press release on the IASB website. More in­for­ma­tion on the topics discussed is available through our com­pre­hen­sive notes taken by Deloitte observers of the September 2017 Meeting.

The conference will feature a keynote address from Sir David Tweedie, Chairman of the Board of Trustees of the International Valuation Standards Council, as well as speakers from the IASB and other organisations.

For more information, see the press release on the EFRAG’s website.

The report addresses some of the key financial reporting issues the UK will face post-Brexit. It also offers 16 recommendations aimed at policymakers and their constituents in response to some of the principal questions that have been raised on the subject. These questuons include:

• What will Brexit mean for UK financial reporting?
• Should the scope of the current regulatory framework be revisited?
• How can the UK continue to be a major player in global standard-setting?

The report also examines three options available to the UK in its expected post-Brexit position as a country adhering to IFRS, but sitting outside EU jurisdiction:

• EU-adopted IFRS continue to be applied by UK listed companies and the UK continues to participate in EFRAG decision making.
• UK listed companies are required to use IFRS as issued by IASB, without any mechanism for rejecting new standards.
• The UK establishes some form of national endorsement mechanism.

Please click to access the full report on the ICAEW website.

EFRAG supports the IASB proposals; however, EFRAG recommends the development of some more illustrative examples in order to further clarify the distinction between an accounting policy and an accounting estimate

Comments on EFRAG's draft comment letter are requested by 7 December 2017. For more information, see the press release and the draft comment letter on the EFRAG website.

Among the newly designated IFRS is also IFRS 17 Insurance Contracts issued by the IASB in May 2017.

For more information, see the press release (in Japanese only) on the FSA website.

The full agenda for the meeting is sum­marised below:

Agenda papers for this meeting are available on the IASB's website.