Please note that the collections do in part overlap - especially the IASB statements on IFRS 9 and IFRS 16 are included in almost all of them. Please be also aware that these collections will continue to be updated throughout the crisis. This page was last updated on 2 September 2020.

If you are aware of additional collections that would be of interest to an international financial reporting audience, please feel free to contact us.

The Board will discuss the following:

• Amendments to IFRS 17 Insurance Contracts
• Management commentary
• Research programme update
• Maintenance and consistent application
• IBOR reform and the effects on financial reporting (oral update)
• Disclosure initiative — accounting policies

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 only point for discussion will be the comment letter analysis and redeliberation of the proposed amendment to IFRS 16 in relation to COVID-19-related rent concessions. An agenda paper for the meeting is not yet available. The IASB expects to post the paper on 12 May.

The CMAC/GPF meeting was originally scheduled for 18-19 June 2020. A new date has not yet been announced.

The ASAF meeting was to be held on 9-10 July. It has been cancelled completely and the next regularly meeting is currently scheduled for 1-2 October 2020. 

Topics to be discussed include:

• Presentation of Financial Statements in the Public Sector
• Differential Reporting
• Contextual Factors and Imprudent Discount Rate Assumptions
• Disclosure of Tax Expenditures

Registration is now open until 15 May. Participants can attend free of charge, however, registration is required.

Please click for more information on the IPSASB website.

Background

On 23 January 2020, the IASB issued Classification of Liabilities as Current or Non-current (Amendments to IAS 1) providing a more general approach to the classification of liabilities under IAS 1 Presentation of Financial Statements based on the contractual arrangements in place at the reporting date. The amendments currently have an effective date of 1 January 2022.

In April 2020, the IASB held a supplementary IASB meeting to consider COVID-19-related matters including the Board's timelines in view of the COVID-19 pandemic. The Board tentatively decided to delay by one year the effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) to annual reporting periods beginning on or after 1 January 2023.

The proposed amendment published today is solely seeking to delay the effective date of the January 2020 amendments by one year.

Suggested changes

The changes proposed in ED/2020/3 Classification of Liabilities as Current or Non-current — Deferral of Effective Date (Proposed amendment to IAS 1) would defer the effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) to annual reporting periods beginning on or after 1 January 2023. Earlier application of the January 2020 amendments would continue to be permitted.

Comment period

Comments on the exposure draft are requested by 3 June 2020. The shortened comment period of 30 days was approved in a DPOC meeting on 16 April 2020.

Additional information

Please click for:

• IASB press release (link to IASB website)
• Access to the exposure draft on the IASB website
• Our IFRS in Focus newsletter on the ED
• Our IAS Plus project page on Classification of liabilities — Effective date

Comments on Tentative Agenda Decision

IAS 12 Income Taxes—Multiple Tax Consequences of Recovering an Asset (Agenda Paper 2): The Committee decided to finalise the agenda decision, with some suggested changes to the drafting.

Research Summary

Supply Chain Financing—Reverse Factoring (Agenda Paper 3): The Committee members provided suggestions for the questions to be addressed in the upcoming agenda paper for supply chain financing.

More Information

Please click to access the detailed notes taken by Deloitte observers.

A summary of the agenda is set out below:

Agenda papers for the meeting are available on the IASB website.

In the draft comment letter, EFRAG agrees with the proposals in the exposure draft published last Friday that would provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. However, EFRAG would support expanding the scope of the amendment to include all rent concessions granted during 2020 and not just payments due in 2020.

EFRAG has also published a preparatory draft of an endorsement advice of the amendment. Doing so before issuance of the final amendment by the IASB is intended to allow for the finalisation of the endorsement advice as soon as possible after the IASB has issued the amendment to IFRS 16. The preparatory draft of the endorsement advice is based on the assumption that the final amendment will not be substantially different from the proposals in the exposure draft.

Comments on EFRAG's draft comment letter are requested by 7 May 2020, comments the preparatory draft of an endorsement advice by 20 May 2020. For more information, see the press release, the draft comment letter and the preparatory draft of an endorsement advice on the EFRAG website.

EFRAG is also offering a public outreach event on the exposure draft on Thursday 7 May 2020. More information is available here.

The podcast features discussions related to the effects of COVID-19 on stakeholders, specifically changes in the work plan timeline and proposed rent concession amendments to IFRS 16, Leases. The podcast also discusses:

• Amendments to IFRS 17, Insurance Contracts.
• Post-implementation reviews of IFRS 10, IFRS 11 and IFRS 12.
• Management commentary.
• Maintenance and consistent application.

The podcast can be accessed through the press release on the IASB website. More information on the topics discussed is available through our comprehensive notes taken by Deloitte observers at the April IASB meeting as well as the Board's supplementary COVID-19 meeting.