In addition to updates on major IFRSs (IFRS 17, IFRS 9, IFRS 15, IFRS 16), better communication in finacial reporting, and materiality, the conference will also feature a panel discussion on Islamic accounting. Therefore, the list of speakers not only includes IASB Chair and Vice-Chair, IASB members and staff but also the Chair of the IASB Islamic Finance Consultative Group.

Please click for more information on the conference website (registration required to view the programme) and a preview of the programme as currently planned on the IASB website (no registration required).

The podcast features discussions of the following topics:

• Investor reactions to IFRS 17,
• Materiality practice statement,
• Prepayment features with negative compensation and modification of liabilities (IFRS 9),
• Rate-regulated activities, and
• Goodwill and impairment.

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 July 2017 Meeting.

General remarks

The IASB continues to not date its work plans any longer, but has re-introduced the possibility of creating a PDF version of the work plan at any given time for personal use. To achieve this, use the "Print this tab" link near the top of the page and then choose creating a PDF.

Below is an analysis of all changes made to the work plan since our last analysis on 28 June 2017.

Standard-setting projects

• No changes

Maintenance projects

• IFRIC 14 — Availability of a refund of a surplus from a defined benefit plan — final amendments are now expected in the first half of 2018 (was: fourth quarter of 2017)
• A new project "Accounting policy changes (Amendments to IAS 8)" has been added to the work plan. This goes back to the Board's June 2017 discussions when the Board tentatively decided to amend IAS 8 to lower the impracticability threshold regarding retrospective application of voluntary changes in accounting policies that result from agenda decisions. An exposure draft is currently expected in the first half of 2018.
• IAS 28 — Long-term interests in associates and joint ventures (split out from the annual improvement process 2015-2017) is now expected to see final amendments in October 2017 (was: September 2017)
• The two remaining issues of the annual improvement process 2015-2017 were set to see final amendments in July 2017. This has been changed to the fourth quarter of 2017.
• IAS 19 — Remeasurement at a plan amendment, curtailment or settlement — final amendments are now expected in the first half of 2018 (was: fourth quarter of 2017)
• IFRS 9 — Prepayment features with negative compensation — discussions this week have clarified that final amendments are expected in October 2017

Research projects

• Discount rates — a research report is now expected in the first half of 2018 (was: September 2017)
• IFRS 2 — Research project on share-based payments — a research report is now expected in the first half of 2018 (was: September 2017)

Other projects

• No changes

The above is a faithful comparison of the IASB work plan at 28 June 2017 and at 21 July 2017. For access to the current IASB work plan at any time, please click here.

Ms Shah, who will take office in October 2017, is currently Deputy Chief Accountant of the Division of Corporation Finance of the US Securities and Exchange Commission (SEC). In that capacity she has supported the SEC staff’s discussions on IFRSs within the International Organization of Securities Commission’s (IOSCO) accounting technical committee.

Please click for more information in the press release on the IASB website.

The webinar was tailored to investors and covered the following questions:

• Why IFRS 17 was developed?
• How does IFRS 17 work?
• What are the benefits of IFRS 17?

There is also a section with answers to questions submitted by investors during the webinar.

Please click to access the webinar through the press release on the IASB website.

On Tuesday, the meeting started with positive feedback on outreach the IASB staff have undertaken with investors and analysts in relation to the recently issued IFRS 17 Insurance Contracts. The Board decided to proceed towards finalisation of 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. The Board asked the staff to undertake more research on a possible amendment to IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

The day finished with a session on Disclosure Initiative: Materiality Practice Statement. The Board decided to remove two paragraphs and an example relating to the impact of covenants on the materiality of other information.

On Wednesday, The Board decided to finalise the amendments the proposed amendment to IFRS 9 on prepayment features with negative compensation and, as part of that package, to highlight in the Basis for Conclusions the relevant accounting requirements for a modification of financial liabilities that does not result in derecognition. The amendments will have an effective date of 1 January 2019, rather than the originally proposed 1 January 2018, with earlier application permitted.

The remaining sessions were educational in nature. The Board continued its discussions on rate-regulated activities, focusing on control and matching; and recognition and uncertainty. It also discussed possible revisions to the assessment of goodwill impairment, mainly focusing on feedback from outreach. No decisions were made in these education sessions.

It was Stephen Cooper’s final Board meeting.

Please click to access the detailed notes taken by Deloitte observers for the entire meeting.

The illustrative tagging shows how selected information from the Illustrative Examples accompanying IFRS 17 could be tagged using the IFRS Taxonomy Update that was proposed together with the issuance of IFRS 17 on 18 May 2017 and is currently expected to be published in the fourth quarter of 2017.

The illustrative tagging is available through the IASB's supporting material section of the Taxonomy Update project page.

This questionnaire on the report is open from 18 July 2017 through 20 September 2017. It can be accessed here.

The report identifies that further improvements are needed in relation to:

• how issuers are selected to examine their financial information;
• the depth of inquiries into financial statements going beyond correcting disclosure; and
• the financial and human resources allocated to the enforcement of financial information.

The report also notes that five of the jurisdictions – Malta, Portugal, Romania, Sweden, and UK – do not fully comply with the fifth of the final guidelines, which requires that use selection models in which all issuers are eligible to be selected for scrutiny.

Please click for additional information on the ESMA website:

• press release
• report of the results of the review

The objective is to have 50 academic participants and 50 non-academic participants. The European Accounting Association (EAA), co-host of the forum, has issued invitations to academics and has issued a call for papers. The IASB is now calling for people with backgrounds other than academia to express their interest in attending the event.

Please click for more information and registration on the IASB website.