• Monday, 23 May 2011 — Introducing IFRS 13 Webcasts will be held at 11am and 4pm, London time (GMT). Registration is available through the IASB's website.
• Wednesday, 25 May 2011 — Introducing IFRSs 10, 11 and 12 Webcasts will be held at 9.30am and 3.30pm, London time (GMT). Registration is available through the IASB's website.

The IASB's 'suite of five standards' on consolidation, joint ventures and disclosures, and the new standard on fair value measurement were released on 12 May.

• The hedge accounting meeting originally scheduled for Thursday has been cancelled.
• The annual improvements discussion and the Interpretations Committee update have been moved from Friday into the former hedge accounting slot on Thursday afternoon.
• The asset and liability offsetting meeting remains on Friday but has been moved forward.
• The revenue recognition session scheduled for Thursday and the leases session scheduled for Wednesday have swapped places resulting in an extended leases session on Thursday.

The revised summary of the agenda for the meeting can be found here. We maintain a summary of the agenda for the next scheduled IASB meeting, and details of future meeting dates, here.

There have been few changes to the expected timing of pronouncements, which remain consistent with the recently issued IASB-FASB progress report on convergence. Highlights from the work plan include:

• Financial instruments – finalised IFRSs on impairment, hedge accounting and asset and liability offsetting are targeted for the third quarter of 2011, with an exposure draft on portfolio hedging expected in the second half of calendar 2011
• Other core projects – final IFRSs on leases, revenue recognition and insurance contracts are all targeted for completion in the fourth quarter of 2011
• Other new standards – an amended IAS 1 dealing with the presentation of other comprehensive income is expected before the end of May 2011, whereas an amended IAS 19 dealing with post-employment benefits is now due to be issued in June 2011
• Exposure drafts – in addition to portfolio hedging (see above), new exposure drafts on annual improvements and consolidation of investment companies are both expected to be issued in June 2011.

Click here for our summary of the IASB's agenda and timetable, which has been updated to reflect the revised work plan.

Tuesday, 17 May 2011 (IASB/FASB) (other sessions)

• Revenue recognition
• Disclosure and presentation requirements

Wednesday, 18 May 2011 (IASB/FASB)

• Revenue recognition
• Amortisation and impairment of assets recognised from costs incurred to acquire/fulfil a contract with a customer
• Onerous contracts
• Financial Instruments – Impairment
• Plan for the project given constituent feedback

Notes from the sessions on insurance contracts held on Tuesday and Wednesday will be posted shortly.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

• 18 May 2011 — Patrick Finnegan: At long last — a single model for consolidation

All Investor Perspectives are archived on the IASB's website.

Tuesday, 17 May 2011 (IASB/FASB)

• Asset and Liability Offsetting
• Exposure Draft feedback
• Project direction going forward

Notes from the other sessions on Tuesday will be posted shortly.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

The consultation paper seeks to determine whether there are common views among users of audited financial statements and other stakeholders about the usefulness of auditor reporting. It describes issues with current financial reporting, including a perceived "information gap" identified by some stakeholders. It then sets out possible options for change and seeks input as to whether such options might be effective in enhancing auditor reporting and the communicative value of the auditor's report.

Comments on the Consultation Paper close on 16 September 2011. Click for IAASB press release (link to IFAC website).

The key conclusions of the forum were as follows:

• Integrated reporting needs to reflect an organisation's strategy and values, as well as how it is managed in social, environmental, and economic dimensions of performance
• The process of integrated reporting, in turn, is a powerful tool to help drive an organisation's strategic agenda, providing management with key drivers of performance
• Integrated reporting has to be open and transparent by reflecting both improvements in performance as well as weaknesses
• Pension fund investors, as well as some other institutional investors, are increasingly looking for financial implications of ESG factors to understand how an organisation's strategy and operations are affecting the numbers and key measures of performance.

Click for:

• IFAC press release (link to IFAC website)
• Our sustainability page.