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  • MB discusses the ongoing activities of the ISSB

    01 Jul 2022

    The IFRS Foundation Monitoring Board (MB) has released a short report on the meeting with the IFRS Trustees and the leadership of the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB) in Montreal. Given current developments, much of the meeting was devoted to the ongoing public consultation by the ISSB on the draft standards.

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  • UN issues statement on ISSB exposure drafts

    29 Jun 2022

    Several United Nations (UN) organisations have responded with a joint statement to the proposed standards of the International Sustainability Standards Board (ISSB).

  • ISSB (International Sustainability Standards Board) (blue) Image

  • Memorandum of understanding signed to establish ISSB presence in Montreal

    28 Jun 2022

    During the meeting of the Trustees of the IFRS Foundation currently taking place in Montreal, Canada, the Trustees have signed a memorandum of understanding to obtain the financial support of the Government of Canada and the Government of Quebec for the International Sustainability Standards Board (ISSB).

  • IOSCO (International Organization of Securities Commissions) (dark gray) Image

  • Speech of the Chair of the Board of IOSCO at the IFRS Foundation Conference

    28 Jun 2022

    On 23 June 2022, Mr Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong and Chair of the Board of the International Organization of Securities Commissions (IOSCO) outlined in a speech at the IFRS Foundation Conference the path forward for the endorsement of future standards of the International Sustainability Standards Board (ISSB) by IOSCO. A comprehensive summary of the speech is now available on the SFC website.

  • IASB (International Accounting Standards Board) (blue) Image
    ISSB (International Sustainability Standards Board) (blue) Image

  • Updated IASB and ISSB work plan — Analysis (June 2022)

    27 Jun 2022

    Following the IASB's June 2022 meeting, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meeting and other developments since the work plan was last revised in May 2022. Some clarifications now also relate to ISSB projects.

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  • June 2022 IASB meeting notes posted

    24 Jun 2022

    The IASB met in London over three days, from Monday 20 to Wednesday 22 June 2022. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • IASB Chair discusses the IASB work plan

    24 Jun 2022

    At the IFRS Foundation Conference currently held in London, IASB Chair Andreas Barckow discussed the IASB’s decisions on its work plan as a result of the outcomes of the IASB's third agenda consultation and the rationale for these decisions.

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  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

  • ESRS outreach event focused on trade unions and NGOs

    05 Jul 2022

    On 13 July 2022, the European Financial Reporting Advisory Group (EFRAG) will host a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special focus on trade unions and non-governmental organisations (NGOs).

  • IVSC (International Valuation Standards Council) (lt green) Image

  • Second IVSC perspectives paper on social value

    05 Jul 2022

    The International Valuation Standards Council (IVSC) is publishing perspectives papers on 'Defining and Estimating ‘Social Value’'. The second paper in the series has now become available.

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  • Agenda for the July 2021 ITCG meeting

    04 Jul 2022

    The agenda is available for the next meeting of the IFRS Taxonomy Consultative Group (ITCG), which will be a hybrid meeting on 13-14 July 2022.

  • IFRS Foundation (blue) Image

  • Short summary of the IFRS Foundation Conference 2022

    01 Jul 2022

    The IFRS Foundation Conference 2022 was held on 23 and 24 June 2022, split into one sustainability day and one accounting day. The IFRS Foundation has now published a short summary of the conference on its website.

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

  • ESRS outreach event focused on SMEs

    30 Jun 2022

    On 8 July 2022, the European Financial Reporting Advisory Group (EFRAG) will host a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special focus on small and medium-sized entities (SMEs).

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  • New and revised pronouncements as at 30 June 2022

    24 Jun 2022

    Our popular summary of new and revised financial reporting requirements, updated for financial reporting periods ending on 30 June 2022. This listing can be used to perform a quick check that new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process. The information below can also be used to assist with the disclosure requirements under paragraph 30 of IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors', which requires entities to disclose any new IFRSs that are in issue but not yet effective and which are likely to impact the entity.

  • CMAC meeting (mid blue) Image
    GPF meeting (mid blue) Image

  • Agenda for June 2022 joint CMAC-GPF meeting

    09 Jun 2022

    Representatives from the International Accounting Standards Board (IASB) will meet with both the Capital Markets Advisory Council (CMAC) and Global Preparers Forum (GPF) in a hybrid meeting on 16–17 June 2022. The agenda for the joint meeting has been released.

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

  • ESRS outreach event focused on financial institutions

    03 Jun 2022

    On 22 June 2022, the European Financial Reporting Advisory Group (EFRAG) and several of its member organisations will hold a joint outreach event in Brussels to discuss the draft European Sustainability Reporting Standards (ESRS) published in April. The event will have a special financial institutions focus.

  • IVSC (International Valuation Standards Council) (lt green) Image

  • Second IVSC perspectives paper on intangible assets

    01 Jun 2022

    The International Valuation Standards Council (IVSC) is publishing a series of perspectives papers 'Time to get Tangible about Intangible Assets' that notes that despite the importance of intangible assets to the capital markets, only a small percentage are recognised on balance sheets.

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  • IFRS on Point — June 2022 Image

  • IFRS on Point — June 2022

    published 05 Jul 2022

    'IFRS on Point' highlights critical financial and sustainability reporting developments and information of the previous month.

  • EITF Snapshot — June 2022 Image

  • EITF Snapshot — June 2022

    published 20 Jun 2022

    At its June 16, 2022, meeting, the Emerging Issues Task Force discussed Issue No. 21-A, “Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.”

  • ias 34 checklists Image

  • IAS 34 compliance checklist 2022

    published 10 Jun 2022

    This checklist summarises the requirements set out in IAS 34 Interim Financial Reporting in issue as of 31 December 2021. This workbook may be used to assist in considering compliance with IAS 34. Although this workbook may be used to assist generally in considering compliance with the requirements of IAS 34, it is not a substitute for your understanding of IAS 34 and the exercise of your judgement.

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  • IFRS on Point — May 2022

    published 02 Jun 2022

    IFRS on Point highlights critical financial reporting developments and main IFRS-related news stories of the previous month.

  • On the Radar — Statement of cash flows Image

  • On the Radar — Statement of cash flows

    published 31 May 2022

    Because ASC 230 is largely principles-based, financial statement preparers must exercise significant judgment when classifying certain cash receipts and payments in their statement of cash flows. Given the lack of prescriptive rules, cash flow presentation continues to challenge financial statement preparers. While the FASB has issued two ASUs in the past few years to assist financial statement preparers and to reduce the diversity in practice regarding cash flow presentation, registrants continue to receive comments from the SEC staff regarding the statement of cash flows. In addition, while the guidance on cash flow presentation of government assistance is not new, certain financial statement preparers may need to brush up on how to present cash flows associated with government grants stemming from the Coronavirus Aid, Relief, and Economic Security Act.

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  • Roadmap: Statement of Cash Flows (2022)

    published 31 May 2022

    This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance on the statement of cash flows, primarily that in ASC 230. The 2022 edition of this Roadmap includes several new discussions as well as some modifications to previously expressed views. Also new to this year’s update are several short videos that provide additional insight into certain aspects of the presentation of cash flows.

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