The Board will discuss the following:

• Primary financial statement
• Business combinations under common control
• Goodwill and impairment:
  • Next stage in the research project
  • Recent feedback from CMAC and GPF
• Dynamic risk management:
  • Designation and qualifying criteria
  • The dynamic nature of portfolios
• Disclosure initiative: Comment letter feedback on ED/2017/6 Definition of Material (Proposed amendments to IAS 1 and IAS 8)
• Implementation:
  • IFRIC Update — March 2018
  • IFRIC Update — January 2018
  • Interpretations Committee process

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 topics discussed at the meeting included:

• Primary financial statements:
  • Introducing management performance measures and management-defined adjusted earnings per share (adjusted EPS) into financial statements; and
  • Proposed improvements to the presentation of the share of profit or loss of associates and joint ventures in the statement(s) of financial performance.
• Discussion Paper: Disclosure Initiative — Principles of Disclosure:
  • Preparers’ views on addressing the disclosure problem;
  • The relative prioritisation of five specific topics included in the DP; and
  • The effect of technology and digital reporting on the project.
• Goodwill and impairment:
  • An approach to the impairment testing of goodwill that considers movements in headroom; and
  • The requirement in IFRS 3 Business Combinations to recognise all identifiable intangible assets acquired in a business combination separately from goodwill.
• Rate-regulated activities:
  • Whether using the disclosure objective in IFRS 14 Regulatory Deferral Accounts would be a good starting point for developing the disclosure objective for the model;
  • The usefulness of the preliminary set of disclosures; and
  • Whether entities should be required to provide all the resulting information within their financial statements, rather than in another location, such as in management commentary.

The next CMAC meeting will take place on 14–15 June 2018.

For more information, see the meeting page and the meeting summary on the IASB's website.

The amendments reflect the endorsement process on IFRS 9 (2014) and the Standards issued by the IASB as of 30 June 2017 and are effective on or after 1 January 2018, with the exception of IFRS 16 and IFRS 17.

After careful consideration, the ASBJ decided that no ‘deletions or modifications’ should be made for this round of endorsement process, therefore, the amendments made simply reflect the endorsement of the pronouncements.

For more information, see the press release and related documents on the ASBJ website (all documents available in the English language).

The outreach will be conducted through structured interviews that should take no longer than 30 minutes.

Please see the press release on the EFRAG website for more information.

This issue features:

• Darrel Scott's perspective on the new information about insurers’ financial performance that will be available when IFRS 17 is applied;
• the unit of account and why the unit of account in IFRS 17 matters to investors, and
• illustrative examples.

For more information, see the press release and Investor Perspectives article on the IASB’s website.

The Climate Disclosure Standards Board (CDSB) has released an updated version of its framework for reporting environmental information, natural capital and associated business impacts, which is now aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The newly-released Framework presents clear links between its principles and reporting requirements with the TCFD recommendations and the supporting recommended disclosures. Please click to access the updated Framework on the CDSB website.

The CDSB and the World Business Council for Sustainable Development (WBCSD) have released new research that takes a closer look into opportunities for alignment in sustainability reporting, with a deeper dive into corporate governance requirements across 60 countries, building on the strong need for further harmonisation in this area. Please clickk to access the research report on the CDSB website.

The CDSB and and the Carbon Disclosure Project (CDP) have released A brief introduction to climate disclosure in France. The publication is part of of the two organisations' series looking at climate disclosure regulations in G20 countries. Please click to access the briefing paper on the CDSB website.

The Global Reporting Initiative (GRI) and the Responsible Minerals Initiative (RMI) have announced a project to help improve companies’ minerals sourcing due diligence and impact reporting by providing reporting resources and tools based on internationally recognised frameworks. Based on the outcome of the project, the RMI and GRI will develop a consolidated reporting resource for responsible minerals sourcing reporting, and inform the Global Sustainability Standards Board (GSSB). Please see the press release on the GRI website for more information.

An independent taskforce in the UK (Green Finance Taskforce) has produced a report that sets out a series of recommendations on how the government and the private sector can work together to make green finance and integral part of the UK’s financial services. Included within the report are proposals as to how the recommendations of the TCFD should be implemented in the UK. The report is available on the website of the UK Government.

The Canadian Securities Administrators (CSA) have published Report on Climate change-related Disclosure Project. The report summarises the findings of the CSA’s project to review the disclosure by reporting issuers of risks and financial impacts associated with climate change and outlines its plans for future work. Please click to access the report the website of the Ontario Securities Commission.

Banking, insurance and non-banking finance companies were exempt from the general roadmap for the adoption of Indian Accounting Standards (Ind AS), which are largely converged with International Financial Reporting Standards (IFRSs), and had been given their own adoption approach with Ind AS adoption beginning from 1 April 2018. However, a Statement on Developmental and Regulatory Policies published by the RBI on 5 April 2018 announced that "it has been decided to defer implementation of Ind AS by one year".

Please click to access the statement on RBI website.

EFRAG has tentatively identified five possible research agenda topics around two main themes:

• Addressing new developments
  • Better information on intangible assets; and
  • Cryptocurrencies;
• Enhancing current financial reporting
  • Derecognition;
  • Transaction-related costs; and
  • Variable and contingent payments.

Responses should be submitted by 1 June 2018. Responses can be submitted by responding to the consultation document or by using an online survey. Both can be accessed through the press release on the EFRAG website.

The short video (two minutes) is part of the IFRS Foundation's efforts to support the implementation of IFRS 17 and describes the three ways pursued in doing so: TRG on IFRS 17, supporting material and education.

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