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Report on the spring 2021 IFASS meeting

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

10 May 2021

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 8 and 9 March 2021.

As reported earlier, among the topics discussed at the meeting were non-financial reporting and the IASB agenda consultation. In addition, IASB Chair Hans Hoogervorst gave a farewell speech to IFASS participants.

The full list of topics discussed at the meeting was:

  • EFRAG initiative on non-financial reporting
    • Overview of the current discussions at the EU level on sustainability reporting
  • Disclosure initiative – Subsidiaries that are SMEs
    • Introduction of the forthcoming proposals
  • Going concern
    • Presentations by Australia and New Zealand
  • Issues surrounding separate financial statements
    • Presentations by Brazil, India, Italy, and Korea
  • Future of Corporate Reporting
    • FRC discussion paper on the future of corporate reporting
  • Post-implementation review of IFRS 10, IFRS 11 and IFRS 12
    • Presentation by India
  • International financial reporting for non-profit organisations
    • Introduction to the IFR4NPO consultation paper issued in January 2021
  • Agenda consultation
    • Introduction to the main areas of the forthcoming request for information
    • EFRAG presentation of its preliminary views on the IASB’s agenda consultation
  • Business combinations under common control
    • Introduction, break-out sessions, and plenary session
  • Message from IASB Chair

The next meeting is to be held on 29-30 September 2021; it will also be held by remote participation.

Please click for the full report from the meeting.

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