Summary of the December 2023 ASAF meeting now available
08 Jan 2024
The IASB staff have published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held in London and virtually on 4 December 2023.
The topics covered during the meeting were the following (numbers in brackets are references to the corresponding paragraphs of the summary):
- Agenda planning and feedback from previous ASAF meeting (1-3): The ASAF members discussed topics for its next meeting to be held on 25–26 March 2024 and will include a discussion on rate-regulated activities and on subsidiaries without public accountability.
- Primary financial statements (4–12): The ASAF discussed steps after publication of IFRS 18, which included the high-level messages the IASB plans to use in its communications strategy for the prospective standard and the purpose, timing and tools the IASB plans to use to support the implementation and consistent application of IFRS 18.
- Climate-related and other uncertainties in the financial statements (13–24): The purpose of the session was to update ASAF members on the project and to seek their feedback on the development of materiality examples and other examples.
A full summary of the meeting is available on the IFRS Foundation website.
