International Accounting Standards Board: Developments in IFRS

Vice-Chair and Member of the International Accounting Standards Board Sue Lloyd and Darrel Scott join Technical Staff member Matt Tilling to provide a summary of the November Board meeting. Topics include the IFRS 17 Insurance Contracts and exception from applying IFRS 9 Financial Instruments, the objectives of management commentary, the Rate-regulated Activities project and others.

IASB member Darrel Scott and technical staff member Andrea Pryde report on the discussion at the November 2018 meeting of the Board regarding IFRS 17 Insurance Contracts.

Chair and Vice-Chair of the International Accounting Standards Board (Board) Hans Hoogervorst and Sue Lloyd join technical staff member Matt Tilling in a new IASB podcast to discuss the new insurance contracts Standard, IFRS 17, goodwill accounting, Primary Financial Statements, possible amendments to the IASB's Practice Statement on making materiality judgements in relation to accounting policy disclosures, potential work on IAS 12 and the income tax Standard, which has come to the Board from the IFRS Interpretations Committee as a consequence of the new leases Standard, IFRS 16.

IASB member Darrel Scott and technical staff member Roberta Ravelli report on the discussion at the October 2018 meeting of the Board regarding IFRS 17 Insurance Contracts.

Chair of the International Accounting Standards Board Hans Hoogervorst and Vice-Chair Sue Lloyd join the IFRS Foundation’s Education Director Matt Tilling for the September podcast to discuss the Board meeting and other developments that have taken place this month. Topics include Primary Financial Statements, Dynamic Risk Management, the upcoming World Standard-setters Conference, the IFRS Trustees' meeting and the IFRS Advisory Council meeting.

The Transition Resource Group for IFRS 17 Insurance Contracts (TRG) held a meeting on 26–27 September 2018 at the London office of the IFRS Foundation. This podcast summarises the discussion.

IFRS Advisory Council Chair Joanna Perry joins IFRS Foundation’s Education Director Matt Tilling to provide a summary of the September Advisory Council meeting. Topics from this meeting include: the interplay between stakeholder engagement and timeliness and how to balance these with due process, comment letters and whether a more flexible approach would encourage appropriate feedback from a wider range of stakeholders and the future of talent and how the Foundation can attract it in the future.

In this month’s podcast, the IFRS Foundation’s Education Director Matt Tilling is joined by IASB Chair Hans Hoogervorst and Vice-Chair Sue Lloyd to provide a summary of the main discussions during the July Board meeting as well as other developments and events that have taken place this month. The technical topics discussed include: goodwill and impairment, rate-regulated activities, accounting for cryptocurrencies and others.

Recorded in Frankfurt, during the IFRS Foundation’s annual international conference, Vice-Chair of the International Accounting Standards Board Sue Lloyd joins the IFRS Foundation’s Education Director Matt Tilling for the June podcast about the Board’s recent discussions and activities. Sue provides an overview of the conference, the Board’s consultation on Financial Instruments with the Characteristics of Equity and a joint FASB and IASB education meeting. Other topics from the IASB June meeting covered include the IFRS Taxonomy, the Board’s discussions on the definition of material, Business Combinations under Common Control and the Dynamic Risk Management projects.

IASB Chairman Hans Hoogervorst is joined by Vice-Chair Sue Lloyd and Education Director Matt Tilling to provide an update on the most recent IASB meeting and other developments. Projects raised in this podcast include Primary Financial Statements, Disclosure Initiative, Business Combinations under Common Control, Rate-regulated Activities, and Goodwill and Impairment.

The Transition Resource Group for IFRS 17 Insurance Contracts (TRG) held a meeting on 2 May 2018 at the London office of the IFRS Foundation. This podcast summarises the discussion.

Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board (Board), provide an update on the April meeting of the Board and other recent developments. Hans gives a summary of what’s new in the revised Conceptual Framework for Financial Reporting, which was issued at the end of March. He also covers the Board’s discussions about the projects on Primary Financial Statements and Goodwill and Impairment. Sue summarises the discussion on the definition of ‘material’, which focused on the feedback received to the consultation on proposed amendments that was published last year, and updates on the work to develop an accounting model for business combinations between companies that are owned by the same parent company.

In the latest IASB podcast, Sue Lloyd talks disclosures and dynamic risk management and Darrel Scott discusses rate-regulation and management commentary, and the outcomes of recent key stakeholder group meetings. Other topics covered include the latest discussions about the work following post-implementation reviews of IFRS 13 and IFRS 8.

In the first meeting podcast of the IFRS Advisory Council, Advisory Council Chair Joanna Perry joins Director of Education Matt Tilling to discuss the role of the advisory body and how its suggestions are addressed by the International Accounting Standards Board, as well as other developments.

The IFRS Foundation’s Education Director Matt Tilling is joined by Chair of the International Accounting Standards Board (Board) Hans Hoogervorst and Board member Darrel Scott to provide a summary of the Board’s February 2018 meeting as well as other key developments. Topics discussed include: disclosures, rate-regulation, IFRS 17 implementation, cash flows, management performance measures and business combinations under common control.

Board member Darrel Scott joins staff member Hagit Keren to talk about the first technical meeting of the TRG. Topics discussed include: separation of insurance components, contract boundary, insurance acquisition cash flows, coverage units and other submissions received.

In the first podcast of 2018, Chair Hans Hoogervorst summarises the Board's discussions on the Primary Financial Statements project and reports on the progress of the Conceptual Framework. Vice-Chair Sue Lloyd provides an update on the Financial Instruments with Characteristics of Equity (FICE) project and the two further issues brought to the Board table from the IFRS Interpretations Committee this month. Also discussed: Feedback from the IFRS 13 Post-implementation Review and the Board’s ongoing discussions about goodwill and impairment.

Chairman Hans Hoogervorst and Board member Amaro Gomes join Education Director Matt Tilling to talk about the latest Board discussions and take a look back at the highlights of 2017.

Hans Hoogervorst, Nick Anderson and Ann Tarca of the International Accounting Standards Board are joined by Education Director Matt Tilling to discuss recent events, such as the meeting of the IFRS Foundation Trustees in Brazil. They also discuss a new project added to the work plan, two possible approaches to accounting for dynamic risk management, how potential changes to IFRS 8 stem from the post-implementation review of the Standard, and how primary financial statements fit into a larger initiative—Better Communication in Financial Reporting.

Board member Darrel Scott joins staff member Hagit Keren to talk about the first administrative meeting of the TRG. Topics discussed include: the purpose of the TRG, introduction to TRG members, process for submitting questions and future meetings.