Report on the autumn 2022 IFASS meeting

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

04 Nov 2022

A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 27 and 28 September 2022.

As reported earlier, among the topics discussed at the meeting were the UKEB research on goodwill subsequent measurement and jurisdictional perspectives on sustainability reporting.

The full list of topics discussed at the meeting was:

  • Overview of research on goodwill subsequent measurement (UKEB)
  • Financial instruments
    • Post-implementation review of classification and measurement (AASB)
    • ESG-linked financial instruments (FASB)
    • FVOCI recycling and impairment (OIC)
  • Break-out sessions on how to improve cash flow reporting
  • Post-implementation review of IFRS 15 (IASB and EFRAG)
  • Jurisdictional perspectives on sustainability reporting: Climate-related risk
    • ESRS E1 Climate Change (EFRAG)
    • Consultation Advancing Public Sector Sustainability Reporting (IPSASB)
    • Proposed rule on climate-related risk (SEC)
    • Panel discussion moderated by the ISSB Vice-Chair with panel members from AASB, FRC, ICPAK, KASB, and SSBJ
  • Looking ahead – What’s next after climate? (TNFD)
  • Digital assets
    • Panel discussion of key developments and implications with members from AcSB, ASBJ, EFRAG, and FASB
  • Second comprehensive review of the IFRS for SMEs
    • Introduction by IASB
    • Introduction by IFR4NPO
    • Panel discussion with members from IASB, Argentina, PAFA, Sri Lanka, and FRC

The next meeting will be a virtual interim meeting which is to be held on 12 January 2023.

Please click for the full report from the meeting.

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