Please find below a brief summary of news and events from the International Accounting Standards Board (Board) and the IFRS® Foundation over the past month:
IASB Chair Hans Hoogervorst delivered a keynote speech at the IFRS Foundation’s conference in Frankfurt, in which he provided an update on the adoption of IFRS Standards around the world and the current focus areas of the Board.
The Board published for public comment a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements.
In this video, IASB Vice-Chair Sue Lloyd explains the background to the Discussion Paper and provides a brief summary of the IASB's approach.
A new educational webcast about IFRS 9 Financial Instruments is now available. In this webcast, IASB Senior Technical Adviser Liz Figgie discusses how to apply the Standard to financial assets with prepayment features.
The Trustees of the IFRS Foundation have proposed narrow-scope changes to the IFRS Foundation's Constitution to increase the maximum tenure of the Trustee Chair and Vice-Chairs.
IFRS 17 Insurance Contracts was issued by the Board in 2017 and comes into effect in 2021. Financial journalist Liz Fisher takes a look at what the new Standard means for the investor community.
On 19 June, the Board held a joint education meeting with the Financial Accounting Standards Board. The summaries of the discussions and the monthly IASB meeting are now available.
The examples demonstrate the use of IFRS Taxonomy 2018 elements by tagging the Illustrative Examples that accompany IFRS Standards. The examples are published in both the XBRL and iXBRL (Inline XBRL) formats.
CFA Institute and the IFRS Foundation hosted a panel debate at the Guildhall in London, asking whether traditional metrics are still relevant amidst rapid technological advancements. Moderator Jane Fuller captures some of the key points made during the discussion.