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Summary of the June 2021 ASAF meeting now available

  • ASAF meeting (mid blue) Image

11 Aug 2021

The IASB staff have published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held via remote participation on 28–29 June 2021.

The topics covered during the meeting were the following (numbers in brackets are ref­er­ences to the cor­re­spond­ing para­graphs of the summary):

  • Business combinations under common control (1–13): The ASAF members discussed the Board’s outreach and provided feedback on when and how the acquisition method and a book-value method should be used to report business combinations under common controls.
  • Third agenda con­sul­ta­tion (14–39): The ASAF members discussed the strategic direction and balance of the Board’s activities, criteria for assessing the priority of financial reporting issues, and financial reporting issues that could be added to the work plan.
  • Sustainability-related reporting (40–44): The ASAF members were presented with an update on the Trustees project on sustainability.
  • Rate-regulated activities (45–66): ASAF members shared their views on Exposure Draft Regulatory Assets and Regulatory Liabilities. Specifically, the members discussed the scope, total allowed compensation, measurement, interaction with IFRS 12, and other topics.
  • Goodwill and impairment (67–84): ASAF members shared their initial views on key items for the Board to consider for redeliberation and issues related to convergence between the Board’s preliminary views and US GAAP.
  • Disclosure initiative — Targeted Standards-level review of disclosures (85–91): ASAF members discussed the outreach and fieldwork performed on Exposure Draft Disclosure Requirements in IFRS Standards — A Pilot Approach.
  • Agenda planning (92–96): The ASAF members discussed topics for the October 2021 ASAF meeting.

A full summary of the meeting is available on the IASB's website.

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