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IASB appoints new Executive Technical Director

21 Jul 2017

The International Accounting Standards Board (IASB) has appointed Nili Shah as Executive Technical Director. She follows Hugh Shields in the role of leading the IASB's technical staff and being responsible for the efficient delivery of all technical activities.

IFRS 17 webinar for investors

21 Jul 2017

The IASB has made available a recording of a webinar held jointly by the IFRS Foundation and the Canadian Accounting Standards Board on IFRS 17 in July 2017.

July 2017 IASB meeting notes posted

20 Jul 2017

The IASB met at its offices in London on 18 and 19 July 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

Illustrative tagging for IFRS 17

19 Jul 2017

The IFRS Foundation has published illustrative tagging for the proposed IFRS Taxonomy update regarding IFRS 17 'Insurance Contracts'.

HLEG questionnaire on interim report

19 Jul 2017

In mid-July, the High-Level Expert Group (HLEG) on Sustainable Finance, established by the European Commission, published a first report setting out concrete steps to create a financial system that supports sustainable investments. The HLEG has now launched a questionnaire aimed at gathering targeted feedback on the analysis and reflections in the interim report and informing the preparation of the final report.

ESMA sees room for improvement in the supervision of the enforcement of financial information

19 Jul 2017

The European Securities and Markets Authority (ESMA) has published the results of a review of the supervision of the enforcement of financial information (IFRS) according to the ESMA Guidelines on enforcement of financial information in the EU member states.

IASB announces fourth research forum

18 Jul 2017

The International Accounting Standards Board (IASB) will host its fourth Research Forum on 28 and 29 November 2017 in Brussels.

The Bruce Column — Ensuring Climate-related financial disclosure goes mainstream

18 Jul 2017

The final Report of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures has been published in June 2017. Our regular columnist Robert Bruce reports on its recommendations and how it is likely to move this issue into the mainstream.

FSB issues statement in support of IFRS 17

17 Jul 2017

The Financial Stability Board (FSB) has issued a statement welcoming the IASB's new insurance accounting standard.

IFAC and CIPFA announce public sector accountability index

17 Jul 2017

The International Federation of Accountants (IFAC) and the Chartered Institute of Public Finance and Accountancy (CIPFA) have announced that they have begun building up an index that will reflect the extent of accrual accounting and adoption of International Public Sector Accounting Standards (IPSASs) around the world.

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Heads Up — Crisis averted

published 20 Jul 2017

This Heads Up discusses the SEC staff’s announcement at today’s meeting of the Emerging Issues Task Force that the staff would not object to elections by certain public business entities (PBEs) to use the non-PBE effective dates for the sole purpose of adopting the FASB’s new standards on revenue and leases.

IFRS in Focus — EC publishes guidelines on the EU Non-Financial Reporting Directive

published 17 Jul 2017

This newsletter discusses the European Commission's guidelines for assisting companies disclose information required by the EU Non-Financial Reporting Directive in a consistent and comparable manner.

Heads Up — FASB proposes targeted amendments to the related-party guidance for variable interest entities

published 14 Jul 2017

This Heads Up discusses the FASB’s proposed Accounting Standards Update (ASU), "Targeted Improvements to Related Party Guidance for Variable Interest Entities." The proposed ASU’s three main objectives are (1) to add an elective private-company scope exception to the variable interest entity (VIE) guidance for entities under common control, (2) to remove a sentence in ASC 810-10-55-37D regarding the evaluation of fees paid to decision makers to conform with the amendments in ASU 2016-17 (issued in October 2016), and (3) to make additional changes to the related-party guidance in the VIE primary-beneficiary assessment, including amending the guidance in ASC 810-10-25-44 (frequently referred to as the related-party tiebreaker test).

EFRAG endorsement status report 13 July 2017

published 14 Jul 2017

The endorsement status report has been updated to include a footnote that links to the text sent to the European Parliament and the Council of the European Union regarding the endorsement of 'Applying IFRS 9 'Financial Instruments' with IFRS 4 'Insurance Contracts' (Amendments to IFRS 4)'.

Heads Up — XBRL requirements for companies reporting under IFRSs

published 12 Jul 2017

This Heads Up discusses requirements related to the use of XBRL— eXtensible Business Reporting Language — by foreign private issuers in their financial data submitted to the SEC.

Heads Up — SEC makes nonpublic review process for draft IPOs and initial registration statements available to all companies

published 11 Jul 2017

This Heads Up discusses the announcement of the SEC’s Division of Corporation Finance that the SEC is extending to all companies benefits similar to those related to the confidential review of draft registration statements that are provided to emerging growth companies under the Jumpstart Our Business Startups Act.

Accounting Roundup: Second quarter in review — 2017

published 06 Jul 2017

This edition of Accounting Roundup summarizes the key financial reporting developments in the second quarter of 2017.

EFRAG endorsement status report 6 July 2017

published 06 Jul 2017

The endorsement status report has been updated to reflect that ARC voted in favour of endorsing amendments to IAS 7, amendments to IAS 12, and clarifications to IFRS 15. Final endorsement of these pronouncements is expected in the fourth quarter of 2017.

Deloitte comment letter on the IASB's proposed improvements to IFRS 8

published 05 Jul 2017

We generally agree with the clarifications to IFRS 8 but have concerns with the practicability of certain proposed requirements.

IFRS in Focus — Task Force on Climate-related Financial Disclosures issues its final report

published 30 Jun 2017

This newsletter discusses the final report recently issued by the Task Force on Climate-related Financial Disclosures. The recommendations aim to provide investors, asset owners, asset managers, lenders and insurance underwriters with consistent climate-related financial disclosures that are useful in understanding material climate-related risks.

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IASB meeting — 18–19 July 2017

Start: 18 Jul 2017 - End: 19 Jul 2017

The IASB met in public on Tuesday 18 and Wednesday 19 July 2017.

IASB meeting — 21–22 June 2017

Start: 21 Jun 2017 - End: 22 Jun 2017

The IASB met in public on Wednesday 21 and Thursday 22 June 2017.

IFRS Interpretations Committee meeting — 13 June 2017

Start: 13 Jun 2017 - End: 13 Jun 2017

The IFRS Interpretations Committee met in London on Tuesday 13 June 2017. The Committee discussed 11 issues — one on-going, five previously issued agenda decisions, and five new.

IASB meeting — 16–17 May 2017

Start: 16 May 2017 - End: 17 May 2017

The IASB met at its offices in London on 16–17 May 2017. There were six topics on the agenda.

IFRS Interpretations Committee meeting — 3 May 2017

Start: 03 May 2017 - End: 03 May 2017

The IFRS Interpretations Committee met via Video Conference Call on Wednesday 3 May 2017. They discussed one new issue and the staff also identified the new issues that have come to them that they are still analysing for future meetings.

IASB meeting — 24 and 27 April 2017

Start: 24 Apr 2017 - End: 27 Apr 2017

The IASB met at its offices in London on 24 and 27 April 2017. One session was held jointly with the FASB.

IASB meeting — 21–22 March 2017

Start: 21 Mar 2017 - End: 22 Mar 2017

The IASB met at its office in London on 21–22 March 2017.

IFRS Interpretations Committee meeting — 14-15 March 2017

Start: 14 Mar 2017 - End: 15 Mar 2017

The IFRS Interpretations Committee met in London on Tuesday and Wednesday 14-15 March 2017. The IFRS Interpretations Committee deliberated comment letters received on issues regarding IAS 19 and IFRS 11, finalised agenda decisions on IAS 2, IAS 12, IAS 28, and IFRS 10, and considered new issues on IAS 12, IAS 19, IAS 32, IAS 33, IAS 41, IFRS 1, and IFRS 9.