International Accounting Standards Board: Developments in IFRS

Michael Stewart, Thomas Harzheim, Denise Durant and Leonardo Piombino give an overview of some of the issues discussed at the May 2013 IFRS Interpretations Committee meeting, including IAS 12 Income Taxes—Recognition of deferred tax assets for unrealised losses, IFRS 5 Non-current Assets Held for Sale and Discontinued Operations—Classification in conjunction with a planned IPO, but where the prospectus has not been approved by the securities regulator, IFRS 5 Non-current Assets held for Sale and Discontinued Operations—Change in Methods of Disposal and IAS 19 Employee Benefits—Actuarial assumptions—Discount rate.