August

IASB announces fourth webinar on PFS ED

07 Aug 2020

In December 2019, the IASB published the exposure draft of a new standard 'General Presentation and Disclosures' that is intended to replace IAS 1 'Presentation of Financial Statements'. The IASB is introducing the exposure draft in a series of webinars.

The fourth and final webinar in this series will be held on 21 August 2020. It will explain the Board’s detailed proposals for management performance measures. The webinar will last approximately 60 minutes and will include a question-and-answer session. More information is available here.

IASB posts webinar on the IFRS Taxonomy 2020

05 Aug 2020

The IASB has posted to its website a webinar, hosted by IASB Board Member Ann Tarca and Technical Staff Vivek Baid, that provides a short introduction to the IFRS Taxonomy 2020 and an overview of changes from the 2019 taxonomy.

For more in­for­ma­tion, see press release on the IASB's website.

IASB announces webinar on the second comprehensive review of the IFRS for SMEs Standard

03 Aug 2020

The IASB will be holding two repeated live webinars on 17 August 2020 (09:00 and 15:00 (BST)) to discuss the second comprehensive review of the IFRS for SMEs Standard.

The webinars will be hosted by IASB Board Member Darrel Scott and the IASB’s technical staff. Participates are allowed to submit question prior to the webinars.

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

BIS calls IFRS 17 a "welcome development"

03 Aug 2020

The Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) has published a paper 'Accounting standards and insurer solvency assessment' dealing with IFRS 17 'Insurance Contracts'.

Most of the 20 jurisdictions surveyed for the paper expressed the belief that IFRS 17 will contribute to financial stability through greater transparency as the current international accounting standards for insurance contracts permit a variety of approaches, which complicate comparison between insurers’ financial results. The paper states:

Overall, IFRS 17 is a welcome development. It is aimed at improving global comparability with respect to the structure of liability valuation and transparency in insurer balance sheets, thus benefiting policyholders, investors and, ultimately, financial stability.

Please click to access the paper on the BIS website.

EFRAG outreach event in the context of the endorsement process of IBOR Phase 2

03 Aug 2020

The issuance of final amendments as result of the IASB project on 'IBOR reform and the effects on financial reporting — Phase 2' is expected in August. Given the urgency of the endorsement and the accelerated consultation process, the European Financial Reporting Advisory Group (EFRAG) has organised a public outreach event on 7 September 2020 to collect additional views from constituents on the draft endorsement advice EFRAG plans to publish at the end of August (shortly after the publication of the amendments by the IASB).

Please click for more information and registration for the event on the EFRAG website.

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