A summary of the agenda is set out below:

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

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

In addition to giving updates on their respective standard-setting activities at the meeting, the two boards exchanged views on technical topics in which they both have an interest, including virtual currencies, the subsequent accounting for goodwill, the presentation and disclosure of financial statements, and leases.

The next meeting between the FASB and ASBJ is expected to be held in the first half of 2019 in Tokyo. For more information about the latest meeting, see the press release on the FASB website.

Mr. Watchman's term expires on 31 March 2019; the new Chairman and CEO would begin as of 1 April 2019. The EFRAG notes that eligible candidates should apply by 8 October 2018.

For more information, see the press release on the EFRAG's website.

The ITCG discussed the following:

• Common reporting practice analysis of the disclosure requirements in IFRS 13 Fair Value Measurement.
• Update on IFRS Taxonomy activities.

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

Developed to help the AASB better understand what financial statements are currently being prepared as well the requirements of readers of for-profit entities’ financial statements, responses to the surveys will feed into the AASB's revised conceptual framework project.

Please click for more information on the surveys, which should each take 10-15 minutes to complete. The surveys are open until 30 September 2018.

The podcast features dis­cus­sions of the following topics:

• Goodwill and impairment.
• Composition of the Management Commentary Consultative Group.
• Transaction involving commodities and cryptocurrencies.
• Rate-regulated activities.
• Narrow-scope amendments to IAS 37.

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 of the July 2018 meeting.

The webcasts discuss the Board’s preferred approach when addressing the classification of (1) de­riv­a­tive on own equity and (2) the classification of compound instruments and redemption obligation arrangements.

Future webcasts in the series will cover:

• Pre­sen­ta­tion of equity in­stru­ments.
• Pre­sen­ta­tion of financial li­a­bil­i­ties.

For more in­for­ma­tion, see the following:

• Press release for classification of derivatives on own equity on the IASB’s website and the webcast on the IFRS Foundation’s YouTube channel.
• Press release for classification of compound instruments and redemption obligation arrangements on the IASB's website and the webcast on the IFRS Foundation's YouTube channel.

Sixteen leading banks convened by the UN Environment Finance Initiative (UNEP FI) have released new methodologies that aim to help the banking industry to understand and manage the physical risks and opportunities of climate change in their loan portfolios. The methodologies are designed to enable banks to be more transparent about their exposure to climate-related risks and opportunities, in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Navigating a New Climate can be downloaded here from the UNEP FI website.

The World Business Council for Sustainable Development (WBCSD) has released Climate-related financial disclosure by oil and gas companies: implementing the TCFD recommendations. The report provides an in-depth description of the current state of climate-related financial disclosure and effective disclosure practices among leading oil and gas companies. It is available here on the WBCSD website.

The Global Reporting Initiative (GRI), Principles for Responsible Investment (PRI) and the United Nations Global Compact have released ten recommendations intended to provide guidance to businesses on how to better ensure their disclosures in relation to the Sustainable Development Goals (SDGs) are useful for investors. In Focus: Addressing Investor Needs in Business Reporting on the SDGs is available here on the GRI website.

The Climate Disclosure Standards Board (CDSB) announces that two months after the launch of the TCFD Knowledge Hub 400 resources have by now been uploaded to the platform, providing additional guidance and insights into climate-related financial disclosures. In the next few months, the platform will also be expanded to include two new sections on case studies and on upcoming events. Please click for more information on the CDSB website.

The UK Department for Business, Energy and Industrial Strategy (BEIS) has published a response to its consultation on a streamlined and more effective energy and carbon reporting framework (SECR) for the UK. The reporting framework will apply to all quoted companies and large UK incorporated unquoted companies and is expected to be put in place from April 2019. The companies will have to provide the information in their annual reports in line with the TCFD recommendation to include climate-related disclosures as part of mainstream financial filings. The full set of Government proposals and a final impact assessment can be found on the BEIS website.

The symposium on accounting research will gather together academics, international standard-setting representatives, finance and accounting directors, chartered accountants and external auditors around series of round tables on changes in companies’ information and its related financial or extra-financial components. In particular, debates will deal with the way financial communication has evolved to include an increasing number of extra-financial items, on the various characteristics of this information, on the potential boundaries and barriers and on the expected and desirable next steps.

Participation in the symposium is free of charge, however, prior registration is required.

Please click for more information and registration on the ANC website.