The webcast is presented in two parts:

• Part 1 discusses the measurement of the fulfilment cash flows
• Part 2 covers the contractual service margin and the scope and requirements of the variable fee approach

For more information, see the press release on the IASB’s website. In addition, earlier webcasts and webinars on IFRS 17 are available through an archive.

The proposed amendments to IPSAS 36 would converge IPSAS with the narrow-scope amendments to IAS 28 Investments in Associates and Joint Ventures made by the IASB in Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28) issued October 2017.

The proposed amendments to IPSAS 41 would converge IPSAS with the narrow-scope amendments to IFRS 9 Financial Instruments made by the IASB in Prepayment Features with Negative Compensation (Amendments to IFRS 9) also issued October 2017.

Comments on the exposure draft are requested by 22 October 2018. It can be accessed here on the IPSASB website.

The statement sets out the need for a holistic approach to respond to increasing demand for disclosure of non-financial information, and notes that both financial and non-financial information should be subject to the same or similar frameworks and overarching principles. It also notes international take up of external reporting initiatives in a number of jurisdictions and at the IASB.

Please click to access the position statement on the website of the Australian government.

Her speech entitled ‘Check the numbers: Accounting information still matters to you, me and investors around the world’ covered (1) the relationship between accounting information and share prices, (2) whether current accounting practices and economic changes have diminished the role for accounting information, and (3) how the IASB is addressing issues raised by those who consider accounting has lost its relevance.

The full version of Ms Tarca’s speech is available on the IASB’s website.

IPSAS 41 replaces IPSAS 29 Financial Instruments: Recognition and Measurement, and introduces:

• Simplified classification and measurement requirements for financial assets;
• A forward-looking impairment model; and
• A flexible hedge accounting model.

IPSAS 41 includes public sector-specific guidance and illustrative examples on: (1) financial guarantees issued through non-exchange transactions; (2) concessionary loans; (3) equity instruments arising from non-exchange transactions; and (4) fair value measurement.

For more information, see the press release, IPSAS 41, and At-a-Glance summary on the IPSASB website.

The standard defines the accounting principles for risk reserves in line with the best practices of financial reporting and risk management. The standard encourages but does not require maintaining adequate risk reserves to safeguarding the interest of profit and loss stakeholders particularly against various risks including credit, market, equity investment risks, as well as, the rate of return risk. Together wih FAS 30 Impairment, Credit Losses and Onerous Commitments, FAS 35 supersedes the earlier FAS 11 Provisions and Reserves and is effective for the financial periods beginning on or after 1 January 2021 with earlier adoption permitted.

The new standard can be accessed through the press release on the AAOIFI website.

The <IR> Academic Database is run on a voluntary basis by the<IR> Academic Network; a network that provides a space for connecting theory and practice by bridging academia to those who directly prepare and benefit from integrated reports.

Over 1,600 companies in 65 countries are using integrated reporting. Research included in the database concludes that integrated reporting leads to increased stock liquidity, better performance, higher market valuation and a longer-term investor base for the businesses that adopt it.

The database, which represents the most comprehensive collection of scholarly investigation into the impact of integrated reporting in the world, will be the focal point for academic research on integrated reporting in the future and provides opportunity for further study, complementing the IIRC’s global <IR> Academic Network.

The press release and the database, a freely available resource, can be found on the integrated reporting website.

The IFRS Foundation expects to issue stand-alone modules for each section of the 2015 IFRS for SMEs Standard (35 in total). This is the second batch of modules released by the Foundation; the first three modules were posted in April 2018. The seven new modules issued cover the following topics:

• Statement of comprehensive income and income statement.
• Statement of changes in equity and statement of income and retained earnings.
• Statement of cash flows.
• Basic financial instruments.
• Other financial instrument issues.
• Inventories.
• Events after the end of the reporting period.

For more information, access the IFRS for SMEs modules (free registration required) and see the press release on the IASB’s website.

The updated publication highlights how IPSAS reflect the accounting consequences of sovereign debt restructuring transactions.

Please click to access the document on the IPSASB website.

This webcast discusses the Board’s preferred approach to presenting equity instruments.

The next and final webcast in the series will cover the pre­sen­ta­tion of financial li­a­bil­i­ties.

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