The article by Ms Tarca explains the Board’s preliminary views for accounting for business combinations under common control that aim to reduce diversity in practice and to improve the information provided to investors so they can understand the effects of these transactions and compare companies that undertake them.

The second article discusses the controlling entity’s perspective in a BCUCC and suggests some issues for the Board to consider in its redeliberations of its preliminary views.

The third article discusses the choice of the controlling party or transferred business book values, the principles and objectives of the IASB's discussion paper and the relationship with related party disclosures.

All three articles can be accessed through the press release on the IASB website.

The two main topics for the meeting will be:

• Review of practical implementation, including measurement, of core indicators for entity reporting on the contribution towards the attainment of the Sustainable Development Goals; and
• Climate-related financial disclosures in mainstream entity reporting: good practices and key challenges.

The background papers for these two topics are available in Arabic, Chinese, English, French, Spanish, and Russian and can be accessed here.

The workshop before the ISAR meeting this year (8 November 2021) will focus on "Impact of COVID 19 on company financial and non-financial reporting“.

The key messages of the report are:

• The majority of reports across the sample fell short of the quality that is expected for companies’ official filings. More than 70% of the files contained tagging errors, more than half had issues limiting their usability and more than 25% had design issues.
• Although many issues were identified during the review, almost all issues could be solved with appropriate care and attention. A focus on quality by companies is crucial for a successful roll-out of structured reporting.
• The Lab identified practice tips across three broad areas: process, usability & appearance and tagging.
• Companies should be aware that the issues identified are clearly visible to users and, therefore, may negatively affect a company's reputation and the willingness of stakeholders to use digital information.

Please click to access the report on the FRC website.

The publication includes:

• Consolidated statement of profit or loss and other comprehensive income
• Consolidated statement of financial position
• Consolidated statement of changes in equity
• Consolidated statement of cash flows
• Notes to the consolidated financial statements
• Independent auditor’s report
• Appendix 1 – Areas of the model financial statements affected by climate change and COVID-19

Please click to download the publication here.

The podcast is hosted by IFRS Interpretations Committee Chair and IASB Vice-Chair Sue Lloyd and Technical Staff member Patrina Buchanan and focuses on non-refundable VAT on lease payments (IFRS 16), accounting for warrants that are financial liabilities on initial recognition (IAS 32), demand deposits with restrictions on use (IAS 7), and cash received via electronic transfer as settlement for a financial asset (IFRS 9).

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

Completion of the questionnaire should take approximately 20-30 minutes. Please click for more information and access to the survey on the EFRAG website.

Note: The deadline for completing the survey has been extended until 30 November 2021.

The TRWG provides technical observations and proposals for consideration which supports early standard-setting activities for the International Sustainability Standards Board. For more information, see the press release on the IASB’s website.

The report discusses ‘the state of play and the drivers of current reporting practices, the application of technological solutions, and suggests a path to improvement in the reporting of sustainability risks, opportunities and their linkage to the business model’. The supplementary document provides selected examples of good or leading reporting practices by companies related to improvements to reporting sustainability risks, and opportunities.

For more information, see the press release on the EFRAG website. The report will be introduced in a webinar on 3 November 2021. Please click for more information here.

In addition, the EFRAG will introduce a series of three podcast on the report:

1. Key findings of the report.
2. Insights on the good reporting practices identified in the report.
3. Highlights the current and potential role of technology in sustainability reporting.

Update: On 3 November 2021, the EFRAG organised a webinar to give insights into the findings of its report. A summary report of the webinar as well as recordings of the event are now available.

The meeting saw presentations on the following topics:

• Q&A on sustainability reporting
• Welcome address by the new IASB Chair
• How has the pandemic changed engagement with the IFRS Foundation?
• The future of the IASB work plan — Agenda consultation: what’s next?
• Q&A on IASB and IFRS IC activities
• Towards a revised Management commentary Practice Statement

In addition, WSS participants received pre-conference video updates on certain topics that can also be watched now.

The recordings can be accessed through the conference site on the IASB website. You will need to sign in, however, the free-of-charge basic registration suffices to watch the recordings.

In the draft comment letter, EFRAG "cautiously" supports the proposals of the exposure draft, but raises some concerns and provides some suggestions. EFRAG:

• suggests that the key principles proposed by the IASB should encompass cost-benefit considerations;
• highlights the risks of not considering the existing disclosure requirements in full IFRSs when there are no recognition and measurement differences between the IFRS for SMEs and full IFRSs;
• suggests that the reasoning for the exceptions is improved;
• suggests considering the interaction between the disclosure requirements of this exposure draft and the disclosure requirements of the exposure draft Disclosure Requirements in IFRS Standards – A Pilot Approach;
• considers that the application of a full set of disclosure requirements for IFRS 17 Insurance Contracts can be burdensome and costly for eligible subsidiaries; and
• suggests a number of additional disclosures that it considers relevant for users of financial statements.

Comments on EFRAG's draft comment letter are requested by 26 January 2022. For more information, see the press release and the draft comment letter on the EFRAG website.