The following topics are on the agenda:

Dynamic Risk Management: The IASB will discuss risk mitigation intention and the construction of the benchmark derivatives, as well as further considerations on the current net open risk position.

Financial Instruments with Characteristics of Equity: The IASB will make tentative decisions related to proposed amendments to IFRS 7 in relation to an entity’s issued equity instruments, additional disclosures related to classification and presentation topics, and proposed transition requirements.

Rate-regulated Activities: The IASB will discuss long-term performance incentives and derecognition. The staff recommend that the final Accounting Standard retains the proposal that an entity is required to estimate the amount of a long-term performance incentive and determine the portion of that estimated amount that relates to the reporting period using a reasonable and supportable basis. The staff also make several recommendations with regard to the derecognition of regulatory assets and liabilities.

Maintenance and consistent application: The IASB will discuss the IFRS Interpretations Committee Agenda Decision ‘Definition of a Lease—Substitution Rights (IFRS 16)’ and the March 2023 IFRIC Update.

Equity Method: The staff recommend that an investor recognises deferred tax assets or liabilities on the differences between the fair value and the tax base of its share of the associate’s identifiable assets and liabilities. The staff also recommend that the IASB moves the project to its standard-setting work plan; works towards publishing an exposure draft as the next due process step; continues to use the expertise of its advisory bodies instead of establishing a consultative group; and updates the project’s objective.

International Tax Reform—Pillar Two Model Rules: The staff recommend undertaking a narrow-scope standard-setting project to amend Section 29 Income Tax of the IFRS for SMEs Accounting Standard for the upcoming amendment to IAS 12 with regard to international tax reform.

Provisions—Targeted Improvements: The IASB will discuss an amendment of the liability definition and the requirements and guidance supporting the present obligation recognition criterion, applying concepts added to the Conceptual Framework in 2018.

Business Combinations under Common Control (BCUCC): The IASB will discuss the project direction and the measurement method to apply to a BCUCC.

Post-implementation Review of the IFRS 9 impairment requirements: The IASB will be asked to approve the publication of the Request for Information (RFI), and whether they agree with a 120-day comment period for the RFI.

Disclosure Initiative—Subsidiaries without Public Accountability: Disclosures: The IASB will continue its redeliberations of the feedback on aspects of the proposed disclosure requirements and language in the draft Standard.

Our pre-meeting summaries are available on the April meeting notes page and will be supplemented with our popular meeting notes after the meeting.