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  • Norway steps back from ambitious plan to introduce of IFRS for SMEs based accounting standards

    27 Jun 2017

    In 2015, the Norwegian Ministry of Finance circulated for comment an exposure draft of a new Accounting Act for Norway. Part of the proposed reform was to replace current Norwegian accounting standards by requirements based on the IASB’s IFRS for SMEs. In another exposure draft published now, the proposals get scaled back to minimum changes that would not even suffice to bring the Norwegian Accounting Act in line with the revised European Accounting Directive.

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  • European Commission adopts guidelines on the disclosure of non-financial information

    27 Jun 2017

    The EU Directive on disclosure of non-financial and diversity information by large companies and groups addressing environmental, social, and governance (ESG) issues entered into force on 6 December 2014. The European Commission (EC) has now adopted non-binding guidelines on the disclosure of non-financial information by companies. Their objective is to help companies fulfil the requirement to disclose relevant and useful information on environmental and social matters in a consistent and more comparable way.

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  • IASB abandons PDF viewer approach

    27 Jun 2017

    Saved links to PDF documents on the new IASB website now return a "No valid document" comment without indicating why the document is no longer available nor where it can be found now. IAS Plus have investigated the issue and found that the IASB has abandoned the PDF viewer approach it had adopted when moving to its new website.

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  • June 2017 IASB meeting notes posted

    26 Jun 2017

    The IASB met at its offices in London on Wednesday 21 and Thursday 22 June 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • IPSASB podcast and Q&A document on materiality

    23 Jun 2017

    The International Public Sector Accounting Standards Board (IPSASB) staff have issued a podcast and a questions and answers document on the application of materiality to preparing financial statements.

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  • Academic workshop on measurement in financial reporting

    23 Jun 2017

    The European Financial Reporting Advisory Group (EFRAG) invites academics to join a workshop on measurement in financial reporting and the challenges and objectives connected with it in Brussels on 5 September 2017.

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  • IASB posts webinar on IFRS 17

    21 Jun 2017

    The IASB has posted to its website a webinar on the recently issued standard IFRS 17 'Insurance Contracts'.

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  • TRG Snapshot — Meeting on credit losses: June 2017 Image
  • TRG Snapshot — June 2017 TRG meeting on credit losses

    published 23 Jun 2017

    This TRG Snapshot summarizes the June 12, 2017, public meeting of the FASB’s credit losses transition resource group (TRG). This TRG meeting was the first to be attended by the FASB since it issued the CECL guidance.

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  • Heads Up — PCAOB adopts changes to the auditor’s report

    published 20 Jun 2017

    This Heads Up provides an overview of the PCAOB new auditing standard, "The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion [AS 3101] and Related Amendments to PCAOB Standards."

  • IFRS on point — May 2017 Image
  • IFRS on Point — May 2017

    published 19 Jun 2017

    IFRS on Point, published at the end of each month, highlights critical IFRS-related financial reporting developments.

  • EFRAG endorsement status report 7 June 2017 Image
  • EFRAG endorsement status report 7 June 2017

    published 08 Jun 2017

    This endorsement status report update reflects the issuance of IFRIC 23 'Uncertainty over Income Tax Treatments' by the IASB on 7 June 2017. Final endorsement of the interpretation is currently expected in 2018.

  • IFRS fokussiert — IASB erfragt Umsetzungserfahrungen für spezifische Themenbereiche von IFRS 13 Image
  • IFRS fokussiert — IASB erfragt Umsetzungserfahrungen für spezifische Themenbereiche von IFRS 13

    published 06 Jun 2017

    This German-language newsletter explains the IASB's Request for Information (RFI) seeking comments from stakeholders to identify whether IFRS 13 'Fair Value Measurement' provides information that is useful to users of financial statements; whether there are areas of IFRS 13 that are difficult to implement and may prevent the consistent implementation of the standard; and whether unexpected costs have arisen in connection with applying or enforcing the standard.

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