The Trustees are inviting applications from all geographical regions. They encourage applications from candidates who use the financial statements of small and medium-sized entities (investors and providers of finance).

Nominations for membership of the SMEIG close on 6 April 2023. Please click for more information in the press release on the IFRS Foundation website.

A summary of the agenda is set out below:

Agenda papers for the meeting are available on the IFRS Foundation website.

The key takeaways include:

1. The ISSB Standards are nearing issuance (expected by Q2 2023).
2. SASB Standards are a practical tool to implement S1 and S2 and will be supported for at least four years.
3. Global comparability remains paramount.
4. Jurisdictions are actively considering the ISSB Standards.
5. Capacity building is critical to the ISSB’s success. The ISSB has pledged to publish guidance recognizing that companies have different levels of preparedness and capability to apply S1 and S2.
6. Work to advance integrated reporting remains underway.
7. There is growing support for sustainability disclosures in the private sector.

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

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.

EFRAG has now produced a series of 20 educational videos dedicated to the first set of draft ESRS. Ten of them, the "Glimpses", offer an overview of the standards and the other ten, the "Educational sessions" cover the draft standards in more details.

Click to access the videos on the EFRAG website.

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

The topics covered during the meeting were the following (numbers in brackets are ref­er­ences to the cor­re­spond­ing para­graphs of the summary):

• International Tax Reform — Pillar Two Model Rules (1–6): The ASAF members were provided with an overview of the Exposure Draft International Tax Reform — Pillar Two Model Rules and discussed where jurisdictions are expected to implement the Pillar Two model rules and the current status of implementation.

A full summary of the meeting is available on the IFRS Foundation's website.

The Committee will discuss the following:

• IFRS 16 Leases: Definition of a lease — Substitution rights
• IFRS 9 Financial Instruments: Guarantee over a derivative contract
• IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments: Premiums receivable from an intermediary
• Homes and home loans provided to employees
• Administrative matters
• Potential annual improvements to IFRS Accounting Standards
• Business Combinations — Disclosures, Goodwill and Impairment

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 were:

• IASB and ISSB update (IASB and ISSB)
• Connection between financial and sustainability reporting (UKEB and EFRAG)
• IAS 12 temporary exception amendment (IASB)
• IFRS 16 research (ANC) Transition relief and ongoing practical expedients in IFRS 16 Leases (AASB and MASB)

The next meeting will be the regular spring meeting which is to be held on 19-21 April 2023 in Norwalk.

Please click for the full report from the meeting.

While the Accounting Standards Board of Japan (ASBJ) is a long-established standard setter that has worked closely with the IASB for many years, the Sustainability Standards Board of Japan (SSBJ) has only recently been set up. It is working on its own set of sustainability disclosure standards with exposure drafts to be issued no later than 31 March 2024 and final standards to be issued no later than 31 March 2025. The SSBJ plans to incorporate ISSB Standards into the Japanese requirements.

There are press releases on both meetings on the IFRS Foundation website:

• IASB and ASBJ meeting on 27 February
• ISSB and SSBJ meeting on 1 March