Summary of the March 2019 CMAC meeting

  • CMAC meeting (mid blue) Image

24 Apr 2019

The IASB has released a summary of the Capital Markets Advisory Committee (CMAC) meeting, which was held in London on 21 March 2019.

The topics discussed at the meeting included:

  • Extractive activities:
    • Proposed scope of the research project
    • Additional disclosures: (1) minerals and resources and (2) other disclosures.
  • Financial instruments with characteristics of equity:
    • Presentation of equity instruments
    • Presentation of financial liabilities — presentation of income and expenses arising from particular financial liabilities in other comprehensive income
  • Targeted standards-level review of disclosures:
    • IAS 19 Employee Benefits
    • IFRS 13 Fair Value Measurement
  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets:
    • Aligning liability definition and guidance with the Conceptual Framework
    • Clarifying which costs to include in the measure of a provision
    • Specifying whether discount rate includes own credit risk
  • Management commentary practice statement:
    • Challenges in current practice of reporting performance and position in management commentary
    • The interaction between management commentary and other reports
    • Overview of performance and position
    • Forecasts and targets in management commentary
    • Information about tax in management commentary
  • Business combinations under common control

The next CMAC meeting will take place on 13–14 June 2019.

For more information, see the meeting page and the meeting summary on the IASB's website.

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