In particular, research papers are welcomed on the following research areas of interest:

• Intangible assets
• Statement of cash flows and related items
• Impact of IFRS 17 Insurance Contracts
• Disclosure in financial reports, including
  • guidance for developing and drafting disclosure requirements in IFRS Accounting Standards;
  • segment reporting;
  • climate-related risks in the financial statements;
  • connectivity between the financial statements and sustainability-related financial disclosures; and
  • management commentary and integrated reporting
• Any other topics on the IASB’s work plan

Research papers are requested by 31 March 2024.

For more information, see the press release and call for papers on the IFRS Foundation website.

The declaration mentions the work and progress of the International Sustainability Standards Board (ISSB) and highlights the need of sustainability disclosures for mobilising private sector finance to support the transition to a sustainable economy. It notes:

We underline our commitment to consistent, comparable and reliable disclosure of information on sustainability including climate. We support the International Sustainability Standards Board (ISSB) finalizing the standards for general reporting on sustainability and for climate-related disclosures and working toward achieving globally interoperable sustainability disclosure frameworks. We also look forward to the ISSB’s future work on disclosure on biodiversity and human capital, in line with its work plan consultation.

Please click to access the full statement on the website of the Ministry of Foreign Affairs of Japan.

High­lights of the podcast include dis­cus­sions on:

• Ratification of consequential amendments to the SASB Standards;
• Consultation on the ISSB’s agenda priorities and international applicability of the SASB Standards;
• Stakeholder engagements;
• Upcoming publication of S1 and S2 in June 2023.

The podcast can be accessed through the press release on the IFRS Foun­da­tion’s website.

The following topics are on the agenda:

Business Combinations—Disclosures, Goodwill and Impairment: The staff recommend that the IASB not proceed with its preliminary view to remove the requirement to perform a quantitative impairment test each year and should retain the requirement for an entity to perform an annual impairment test. The staff also recommend that the IASB maintain its preliminary view that it is infeasible to design a different impairment test that is significantly more effective at a reasonable cost.

IASB work plan update: The staff will provide an update on the IASB’s work plan since its last update in March 2023.

Post-implementation review (PIR) of IFRS 15: The IASB will be asked to approve the publication of a Request for Information (RFI) for the PIR of IFRS 15 and whether it agrees with a comment period of 120 days. The publication of the RFI is expected for the end of June 2023.

Maintenance and consistent application: The IASB will discuss further potential annual improvements as well as their effective date and whether early application should be permitted. The staff are asking for approval to begin the balloting process for the upcoming Exposure Draft.

Primary Financial Statements: The IASB will discuss staff recommendations about investments in associates and joint ventures accounted for using the equity method. The IASB will also discuss issues related to management performance measures and IFRS 8.

Subsidiaries without Public Accountability: The IASB will make decisions on whether to retain the disclosure requirements proposed in the draft Standard, after making some targeted changes. The IASB will also discuss the paragraph in the draft Standard that addresses materiality of disclosure requirements as well as disclosure requirements about transition in other IFRS Accounting Standards. Furthermore, the staff will ask the IASB whether disclosure requirements in IFRS Accounting Standards that have been issued since the draft Standard was developed should apply to eligible subsidiaries applying the new Standard.

Management Commentary: The staff will hold an educational session on the comparison between the Management Commentary Exposure Draft and the Integrated Reporting Framework.

Dynamic Risk Management (DRM): The IASB will discuss potential illustrative examples of the application of the current DRM model to support stakeholders in their analysis of the model requirements.

Financial Instruments with Characteristics of Equity (FICE): The staff recommend consequential amendments resulting from the forthcoming FICE Exposure Draft (ED) to the forthcoming Subsidiaries without Public Accountability Standard. The staff will also ask for permission to begin the balloting process for the ED.

Rate-regulated Activities: The IASB will discuss the staff analysis and recommendations on the proposals relating to initial recognition of regulatory assets and liabilities in the Exposure Draft Regulatory Assets and Regulatory Liabilities.

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

More in­for­ma­tion about the issues is set out below:

Click to access all our comment letters to the IASB, IFRS Foun­da­tion, and IFRS In­ter­pre­ta­tions Committee.

Please click to access the updated alignment dashboard prepared for the June 2023 IPSASB meeting on the IPSASB website.

The publication is based on similar educational material regarding full IFRSs published by the IFRS Foundation in November 2020 and also considers feedback received on the September 2022 Exposure Draft IASB/ED/2022/1 Third edition of the IFRS for SMEs Accounting Standard. 

The publication mainly consists of a non-exhaustive list of examples illustrating when the IFRS for SMEs may require companies to consider the effects of climate-related matters in applying the principles in a number of sections.

The examples in the list refer to the following sections:

• Section 3 Financial Statement Presentation
• Section 8 Notes to the Financial Statements
• Section 11 Basic Financial Instruments
• Section 17 Property, Plant and Equipment and Section 18 Intangible Assets other than Goodwill
• Section 21 Provisions and Contingencies
• Section 27 Impairment of Assets
• Section 29 Income Tax

The publication also notes that in addition to the specific requirements outlined in the table, Section 3 contains some overarching requirements that could be relevant when considering climate-related matters.

Please click to access Effects of climate-related matters on financial statements prepared in accordance with the 'IFRS for SMEs' Accounting Standard on the IFRS Foundation website.

The topics discussed at the meeting included:

• IASB and ISSB update
• Primary financial statements
• Business Combinations — Disclosures, goodwill and impairment
• Equity method

The meeting summary is available on the IASB website.

The next CMAC meeting will be a joint meeting with the Global Preparers Forum on 15-16 June 2023.

The webcast offers insights into the project’s objective and approach, the IASB’s tentative decisions, and the project’s next steps.

Please click to access the webcast (approx. 12 minutes) on the IFRS Foundation website.

The following topic is on the agenda:

• Maintenance of the SASB Standards: In this meeting, the staff is seeking ratification by the ISSB of consequential amendments to the SASB Standards in connection with the issuance of IFRS S2 Climate-related Disclosures. The staff will also ask the ISSB to confirm it is satisfied that it has complied with the applicable due process requirements to publish the climate-related revisions to the SASB Standards.

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