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Agenda for the upcoming Emerging Economies Group meeting
13 May 2021
The IASB Emerging Economies Group (EEG) will meet via video conference on 17–18 May 2021. An agenda for the meeting is now available.
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Strong support for ISSB at IOSCO roundtables
11 May 2021
To support its work on securities issuers’ sustainability-related disclosures, the International Organization of Securities Commissions (IOSCO) hosted two roundtables in April and May 2021. The objective was to engage in a dialogue with global stakeholders on IOSCO’s priorities to enhance the reliability, comparability and consistency of sustainability-related disclosures and collect views on the practical implementation of a global system architecture for these disclosures.
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EFRAG draft comment letter on the IASB's exposure draft on disclosure requirements in IFRSs
11 May 2021
The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ED/2021/31 'Disclosure Requirements in IFRS Standards — A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19)'.
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We comment on the IASB's post-implementation review of IFRS 10, IFRS 11, and IFRS 12
10 May 2021
We have responded to the IASB's post-implementation review IFRS 10 ‘Consolidated Financial Statements’, IFRS 11 ‘Joint Arrangements’, IFRS 12 ‘Disclosure of Interests in Other Entities’.
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IFRS Foundation announces webinar series on disclosure requirements in IFRS Standards proposals
10 May 2021
The IFRS Foundation have announced a series of webinars on IASB exposure draft ‘Disclosure Requirements in IFRS Standards — A Pilot Approach’.
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IOSCO Vice Chair explains why and how IOSCO supports the sustainability initiative of the IFRS Foundation Trustees
10 May 2021
At the high-level conference "Proposal for a Corporate Sustainability Reporting Directive - The Way Forward" hosted by the European Commission on 6 May 2021, Jean-Paul Servais, Vice Chair of the International Organization of Securities Commissions (IOSCO) and Chair of the IFRS Foundation Monitoring Board explained why IOSCO believes in the IFRS Foundation Trustees’ sustainability initiative and what IOSCO will do to support it.
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Report on the spring 2021 IFASS meeting
10 May 2021
A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held by remote participation on 8 and 9 March 2021.
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IASB to conduct fieldwork on its disclosure review ED
07 May 2021
On 25 March 2021, the IASB published the exposure draft ED/2021/3 'Disclosure Requirements in IFRS Standards — A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19)' that contains proposed guidance for itself when developing and drafting disclosure requirements in IFRSs in future as well as proposed amendments to IFRS 13 'Fair Value Measurement' and IAS 19 'Employee Benefits' that result from applying the proposed guidance to those standards. The IASB is now inviting preparers of financial statements to participate in fieldwork to test the proposals in the ED.
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EC conference on the proposed Corporate Sustainability Reporting Directive and the way forward
07 May 2021
In its efforts to revise the EU Non-Financial Reporting Directive (NFRD), the European Commission (EC) in April 2021 published a proposal for a Corporate Sustainability Reporting Directive (CSRD). At a high-level conference on 6 May 2021 "Proposal for a Corporate Sustainability Reporting Directive - The Way Forward" participants also discussed the tight timeframe of the EC proposals.
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IFAC encourages a building blocks approach for reporting sustainability-related information
07 May 2021
In September 2020, the International Federation of Accountants (IFAC) released 'Enhancing Corporate Reporting: The Way Forward' calling for the creation of a new sustainability standards board that would exist alongside the IASB under the IFRS Foundation. The IFAC has now published a revised building blocks approach to reporting sustainability information — enhancing its previously issued roadmap.
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Deloitte comment letter on the IASB's post-implementation review of IFRS 10, IFRS 11, and IFRS 12
published 10 May 2021
We have commented on IASB post-implementation review IFRS 10 ‘Consolidated Financial Statements’, IFRS 11 ‘Joint Arrangements’, IFRS 12 ‘Disclosure of Interests in Other Entities’.
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Report on the H1 2021 IFASS meeting
published 10 May 2021
Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held by remote participation on 8 and 9 March 2021. As reported earlier, among the topics discussed at the meeting were non-financial reporting and the IASB agenda consultation. In addition, IASB Chair Hans Hoogervorst gave a farewell speech to IFASS participants.
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IFRS in Focus — IASB amends IAS 12 for deferred tax related to assets and liabilities arising from a single transaction
published 07 May 2021
This IFRS in Focus outlines the recent amendments to IAS 12 'Income Taxes' titled 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction' published by the International Accounting Standards Board (Board) in May 2021.
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EFRAG endorsement status report 7 May 2021
published 07 May 2021
The endorsement status report has been updated to reflect that the IASB has published amendments to IAS 12 to clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations.
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IFRS on Point — April 2021
published 05 May 2021
'IFRS on Point' highlights critical financial reporting developments. It provides a great way to catch up on the main IFRS-related news stories of the previous month.
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IFRS in Focus — IFRS Foundation Trustees propose amendments to the IFRS Foundation Constitution to accommodate an International Sustainability Standards Board
published 04 May 2021
This IFRS in Focus summarises the Exposure Draft (ED) 'Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards', published by the International Financial Reporting Standards Foundation (Foundation) in April 2021. It also summarises the Foundation Trustees’ (Trustees) Feedback Statement on the 'Consultation Paper on Sustainability Reporting' that was published alongside the ED.
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Financial Reporting Alert 20-6 (Updated) — Accounting and SEC reporting considerations for SPAC transactions
published 30 Apr 2021
This Financial Reporting Alert has been updated to reflect the SEC staff’s March 31 and April 12, 2021, statements regarding special-purpose acquisition companies (SPACs) and to provide additional examples and clarifications related to the accounting for shares and warrants issued by SPACs.
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Purpose-driven Business Reporting in Focus — European Commission publishes proposed Corporate Sustainability Reporting Directive
published 30 Apr 2021
This issue discusses the European Commission's proposed Corporate Sustainability Reporting Directive.
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IFRS in Focus — IASB proposes amendments to IAS 21 to specify when a currency is exchangeable and how to determine the exchange rate when it is not
published 23 Apr 2021
This 'IFRS in Focus' outlines the proposed amendments to IAS 21 set out in Exposure Draft ED/2021/4 Lack of Exchangeability (Proposed amendments to IAS 21) published by the IASB on 20 April 2021.
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Technology Spotlight — Applying the revenue standard to identify the performance obligations in arrangements that include smart devices, updates, and cloud-based services
published 20 Apr 2021
This Technology Spotlight discusses how technology entities that sell smart devices and related subscription services to customers should apply the revenue guidance in ASC 606 to determine whether to account for those offerings as multiple performance obligations or as a combined performance obligation. It also discusses the interaction between ASC 606 and ASC 842 in the accounting for arrangements that include the lease of a smart device and the sale of a subscription service.
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IASB Meeting — 27–28 April 2021
Start: 27 Apr 2021 - End: 28 Apr 2021
The IASB met via video conference on 27–28 April 2021.
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IFRS Interpretations Committee meeting — 20 April 2021
Start: 20 Apr 2021 - End: 20 Apr 2021
The IFRS Interpretations Committee met via video conference on Tuesday 20 April 2021 to discuss three topics.
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IASB Meeting — 23–24 March 2021
Start: 23 Mar 2021 - End: 24 Mar 2021
The IASB met via video conference on 23–24 March 2021.
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IFRS Interpretations Committee meeting — 16 March 2021
Start: 16 Mar 2021 - End: 16 Mar 2021
The IFRS Interpretations Committee met via video conference on Tuesday 16 March 2021 to discuss three topics.
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IASB Meeting — 10 March 2021 (Supplementary)
Start: 10 Mar 2021 - End: 10 Mar 2021
The IASB held a supplementary meeting via video conference on 10 March 2021.
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IASB Meeting — 16–17 February 2021
Start: 16 Feb 2021 - End: 17 Feb 2021
The IASB met via video conference on 16–17 February 2021.
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IASB Meeting — 4 February 2021 (Supplementary)
Start: 04 Feb 2021 - End: 04 Feb 2021
The IASB met via video conference on 4 February 2021.
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IFRS Interpretations Committee meeting — 2 February 2021
Start: 02 Feb 2021 - End: 02 Feb 2021
The IFRS Interpretations Committee met via video conference on Tuesday 2 February 2021 to discuss three topics.
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IASB Meeting — 26 January 2021
Start: 26 Jan 2021 - End: 26 Jan 2021
The IASB met via video conference on 26 January 2021.
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IASB Meeting — 14–16 December 2020
Start: 14 Dec 2020 - End: 16 Dec 2020
The IASB met via video conference on 14–16 December 2020.
