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Report on the autumn 2020 IFASS meeting

  • IFASS (International Forum of Accounting Standard Setters) (dark green) Image

27 Nov 2020

A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held by remote participation on 30 September and 1 October 2020.

As reported earlier, among the topics discussed at the meeting were intangibles and the going concern assumption.

The full list of topics discussed at the meeting was:

  • Issues surrounding separate financial statements
    • Presentations by Brazil, Italy, and Korea
  • Primary financial statements
    • Presentations by EFRAG and Korea on the IASB exposure draft
  • Cryptoassets
    • EFRAG discussion paper on the accounting for cryptoassets
  • Intangibles
    • Joint paper by Canada, Germany, Japan, UK and US
  • Going Concern
    • Presentations by Australia and New Zealand
  • International financial reporting for non-profit organisations
  • IPSASB update
  • Fintech application and accounting standards
    • Presentation by Taiwan
  • Impact of COVID-19 in Sri Lanka
    • Presentation by Sri Lanka

The next meeting is to be held on 8-9 March 2021; it will also be held by remote participation.

Please click for the full report from the meeting.

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