The letter is not so much about the decision itself, more about the point of time (during the implementation period, shortly before the effective date). However, EFRAG does not offer a proposed alternative treatment for implementation questions discovered late in the implementation process.

Please click to access the draft comment letter on the EFRAG website. Comments on the draft comment letter are requested by 17 May 2022.

The meeting focused on possible courses of actions the IASB should consider when responding to feedback and future deliberations on its proposal on regulatory returns on construction work-in-progress.

The meeting summary is available on the IFRS Foundation’s website.

The topics discussed at the meeting included:

• Supplier finance arrangements
• Non-current liabilities with covenants
• Update on IASB and IFRS Interpretations Committee developments

The meeting summary and the recording are available on the IASB website. The next GPF meeting is proposed to be held on 16-17 June 2022 (jointly with the CMAC).

The following topics were discussed:

• Accounting and intangibles
• Accounting, control, joint-ventures and partnerships
• Perrier report: Making Paris financial market a reference for the climate transition
• Accounting and growth: what funding for growth?
• Accounting for sustainable growth: a new paradigm?

A recording of the event (in English and in French) as well as selected papers presented (French language only) are now available on the ANC website.

The podcast is hosted by IFRS Interpretations Committee Chair and IASB member Bruce Mackenzie and Technical Staff member Patrina Buchanan and focuses on the following topics:

• Demand deposits with restrictions on use arising from a contract with a third party
• TLTRO III transactions
• Transfer of insurance coverage under a group of annuity contracts
• Negative low emission vehicle credits
• Lessor forgiveness of lease payments
• SPAC transactions — Classification of public shares and accounting for warrants at acquisition
• IASB narrow scope projects

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

The Board will discuss the following:

• Post-implementation review of IFRS 9
• Third agenda consultation
• Main­te­nance and con­sis­tent ap­pli­ca­tion
• Goodwill and im­pair­ment
• Primary financial state­ments
• Second comprehensive review of the IFRS for SMEs
• Equity method
• Disclosure initiative — Subsidiaries without public accountability: Disclosures
• Management commentary

The full agenda for the meeting can be found here. We will post any updates to the agenda, our com­pre­hen­sive pre-meet­ing summaries, as well as observer notes from the meeting on this page as they become available.

The webinar, hosted by ISSB Vice-Chair Sue Lloyd, will offer an overview of ED/2022/S1 General Requirements for Disclosure of Sustainability-Related Financial Information and ED/2022/S2 Climate-related Disclosures and will provide the opportunity to ask questions.

For the convenience of stakeholders in different time zones, there will be two sessions of the webinar, one a t 9:00 BST and one at 17:00 BST.

Registration for the webinar is now open on the website of the IFRS Foundation.

Comment letters on tentative agenda decision

IFRS 15 Revenue from Contracts with Customers—Principal versus Agent: Software Reseller: In its November 2021 meeting, the Committee issued a tentative agenda decision on whether a reseller of software licences is a principal or agent in respect of the standard software licences provided to the customer. Most respondents agreed with the Committee's analysis and conclusions but provided comments on various aspects of the tentative agenda decision. The staff recommend finalising the agenda decision with some changes to the drafting.

Administrative matters

Work in progress: The following new matters have not yet been presented to the Committee:

• Consolidation of a non-hyperinflationary subsidiary by a hyperinflationary parent (IAS 29 & IAS 21)
• Group of insurance contracts that generate cash flows in a foreign currency (IFRS 17 & IAS 21)

The full agenda for the meeting and our com­pre­hen­sive pre-meet­ing summaries can be found here.

The Committee will discuss the following:

• IFRS 15 Revenue from Contracts with Customers — Principal versus Agent: Software Reseller

The full agenda for the meeting can be found here. We will post any updates to the agenda, our com­pre­hen­sive pre-meet­ing summaries as well as observer notes from the meeting on this page as they become available

IASB members are appointed for an initial five-year term with the pos­si­bil­ity of being reap­pointed for another three years (in ex­cep­tional cir­cum­stances for another five years). The roles are full-time and based in London.

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