News
EFRAG draft comment letter on the proposed amendments regarding power purchase agreements
EFRAG has issued a draft comment letter on the IASB's proposed amendments to IFRS 9 and IFRS 7 regarding contracts for renewable electricity.
IVSC perspectives paper on tangible assets
The International Valuation Standards Council (IVSC) has issued a new perspectives paper focusing on the inspection of tangible assets in the valuation process.
IPSASB develops climate-related disclosure standard for the public sector
The International Public Sector Accounting Standards Board (IPSASB), with support from the World Bank, is currently developing a climate-related disclosures standard for the public sector. This will be the first IPSASB Sustainability Reporting Standard (IPSASB SRS) and a draft for public comment is expected in Q4 2024.
IFRS Foundation Monitoring Board welcomes progress of standard-setting activities
During the meeting of the IFRS Foundation Monitoring Board in Singapore last week, the Monitoring Board welcomed the progress of the IASB and the ISSB in their standard-setting activities. The Monitoring Board also noted the importance of rigorous due process in the development of high-quality IFRS Accounting Standards and IFRS Sustainability Disclosure Standards.
Ghana publishes roadmap for ISSB standards adoption
The Institute of Chartered Accountants, Ghana (ICAG) has published a roadmap for the adoption of IFRS S1 and IFRS S2. The document sets out three phases for the adoption.
IFRS Foundation announces IFRS Interpretations Committee appointments
The Trustees of the IFRS Foundation have announced the appointment of Mark Mahar, Natsumu Tsujino, and Leon Yongbum Kim to the IFRS Interpretations Committee.
GRI consults on revised standards for employment practices and working conditions
The Global Reporting Initiative (GRI) has launched a consultation on revisions to its standards ‘GRI 202: Market Presence’, ‘GRI 401: Employment’ and ‘GRI 402: Labor/Management Relations’. The comment period for the revised standards ends on 4 October 2024.
Pre-meeting summaries for the June 2024 IFRS Interpretations Committee meeting
The IFRS Interpretations Committee (Committee) meets on 11 June 2024. The IFRS IC will discuss the finalisation of an agenda decision and a new item, and will give input for two IASB projects.
Pre-meeting summaries for the June 2024 ISSB meeting
The ISSB will meet in a hybrid format (virtual and in Frankfurt) on 12 June 2024. We have posted our pre-meeting summaries for the meeting that allow you to follow the ISSB’s decision making more closely. We summarised the agenda papers made available by the ISSB staff and point out the main issues to be discussed by the ISSB and the staff recommendations.
Accountancy Europe launches ‘ESRS perspectives’ publication series
Accountancy Europe has launched a new publication series titled ‘ESRS perspectives’. The first paper in the series discusses the concept of materiality assessment under European Sustainability Reporting Standards (ESRS).
Recording of the third IASB webinar on IFRS 18 implementation
On 6 June 2024, the IASB offered the third of a series of live webinars aimed at facilitating a comprehensive understanding of the recently issued IFRS 18 'Presentation and Disclosure in Financial Statements'.
FASB votes to propose integrating IAS 20 requirements into US GAAP
At its meeting on 4 June 2024, the Financial Accounting Standards Board (FASB) discussed its project on accounting for government grants and decided, essentially, to propose to insert the requirements of IAS 20 'Accounting for Government Grants and Disclosure of Government Assistance' into US generally accepted accounting principles (US GAAP).
June 2024 IASB meeting agenda posted
The IASB has posted the agenda for its next meeting, which will be held in its offices in London on 19–21 June 2024 and will include a joint session with the FASB via video conference on 21 June 2024. There are nine topics on the agenda.
Meeting summary of the May 2024 MCCG meeting
The IASB's Management Commentary Consultative Group (MCCG) met on 21 May 2024 via video conference. A summary of the discussions at the meeting is now available.
IASB calls for academic contributions to 2025 Research Forum
The IASB has announced a call for paper for its 2025 IASB Research Forum, set to convene at the University of Paderborn in Germany on 6–7 November 2025. This event, held in conjunction with the academic journal 'Accounting Horizons', provides a significant platform for scholars to contribute to the disclourse on contemporary issues in accounting.
Recording of the first 'Perspectives on sustainability disclosure' webinar
The IFRS Foundation has published a recording of its first 'Perspectives on sustainability disclosure' webinar. The webinar was titled 'The business case for early adoption'.
Two workshops on IFRS 18 for academics
The IASB, together with academic partners, is offering two workshops that will provide an overview of IFRS 18 'Presentation and Disclosure in Financial Statements' and are intended to stimulate academic research that will be useful for the post-implementation review of IFRS 18.
Updated IPSAS-IFRS alignment dashboard (June 2024)
The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.
CDP launches new disclosure platform
CDP has launched its new disclosure platform to streamline and remove barriers to high-quality reporting on climate and nature.
IFRS Foundation Trustees Chair discusses milestones and future directions at Singapore stakeholder event
Erkki Liikanen, Chair of the IFRS Foundation Trustees, addressed attendees at the IFRS Foundation Trustees' stakeholder dinner, highlighting the role Singapore has played in the development and implementation of international financial reporting standards. Chair Liikanen acknowledged the collaborative efforts of the Accounting and Corporate Regulatory Authority (ACRA) and the Institute of Singapore Chartered Accountants (ISCA) in hosting the event, which provided a platform to discuss the future of global financial and sustainability reporting.