International Accounting Standards Board: Developments in IFRS

International Accounting Standards Board Chair Hans Hoogervorst and Vice-Chair Sue Lloyd discuss highlights from the meeting held in May: decisions taken in the Primary Financial Statements, the Second Comprehensive Review of the IFRS for SMEs Standard and Financial Instruments with Characteristics of Equity projects; discussions on feedback received on the Board’s Goodwill and Impairment and Lease Liability projects; updates on the Dynamic Risk Management project; and a new question that has arisen on IFRS 17 Insurance Contracts.

International Accounting Standards Board Chair Hans Hoogervorst and Vice-Chair Sue Lloyd discuss highlights from the meeting held virtually on 27 and 28 April 2021, including updates from the Financial Instruments with Characteristics of Equity, Goodwill and Impairment, Primary Financial Statements and Dynamic Risk Management projects.

In the first episode of 2021, IFRS Interpretations Committee Chair and Vice-Chair of the International Accounting Standards Board Sue Lloyd joins Technical Staff Member Patrina Buchanan to talk about recent activities to support the consistent application of IFRS Standards during the first quarter of 2021. They discuss topics from the February and March 2021 Interpretations Committee meetings, which include the definition of net realisable value in IAS 2 and sale of a subsidiary with a leaseback. They also reflect on the narrow-scope amendments issued in the quarter, including the amendments relating to accounting policies and accounting estimates and rent concessions.

International Accounting Standards Board Chair Hans Hoogervorst and Vice-Chair Sue Lloyd discuss highlights from two sessions held in March 2021: the supplementary Board meeting on IFRS 16 Leases and covid-19-related rent concessions as well as the regular monthly Board meeting. They talk about supporting stakeholders’ engagement with the Board’s consultations by having longer comment periods than usual; stakeholder feedback on the Goodwill and Impairment project; decisions taken in the Primary Financial Statements project; and developments in the Equity Method research project.

International Accounting Standards Board Chair Hans Hoogervorst and Vice-Chair Sue Lloyd discuss highlights from two sessions held in February 2021: the supplementary Board meeting on IFRS 16 Leases and covid-19-related rent concessions as well as the regular monthly Board meeting. They talk about developments in the Financial Instruments with Characteristics of Equity and the Extractive Activities projects, among others.

International Accounting Standards Board Vice-Chair Sue Lloyd talks about projects discussed at the January 2021 meeting as well as other relevant news and developments. Topics include: feedback received on our consultation paper Exposure Draft General Presentation and Disclosures; decisions made in the Disclosure Initiative—Subsidiaries that are SMEs project; an overview of the Board’s current work plan; the recently published Exposure Draft Regulatory Assets and Regulatory Liabilities; and the upcoming consultation on Disclosure Initiative—Targeted Standards-level Review of Disclosures.

IFRS Interpretations Committee Chair and Vice-Chair of the Board Sue Lloyd joins Technical Staff Member Patrina Buchanan to talk about Board and Committee activities to support consistent application during the final quarter of 2020. They reflect on topics discussed at the Interpretations Committee meeting in December 2020 as well as the recently published educational materials on climate-related matters; topics covered include reverse factoring arrangements, classification of debt as current or non-current, cloud computing arrangements, defined benefit plans and inflation cash flow hedge accounting.

IASB Chair Hans Hoogervorst and IASB Vice-Chair Sue Lloyd talk about the Board’s discussions on the recent consultations on Primary Financial Statements and the IFRS for SMEs Standard. They also focus on the approval of agenda decision Supply Chain Financing Arrangements—Reverse Factoring, updates on the Subsidiaries that are SMEs and Financial Instruments with Characteristics of Equity projects and plans for the Post-implementation Review of the classification and measurement requirements in IFRS 9.

In the November 2020 episode of our monthly IASB podcast, Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board, talk about the IASB’s annual joint education session with the US standard-setter FASB, current Post-implementation Review projects, Management Commentary and Subsidiaries that are SMEs.

In this episode of our monthly IASB podcast, Sue Lloyd, Vice-Chair of the International Accounting Standards Board (Board), and Executive Technical Director Nili Shah cover work plan changes, the upcoming Agenda Consultation and technical topics that include Subsidiaries that are SMEs, Management Commentary and the Equity Method of Accounting.

Departing International Accounting Standards Board Member Darrel Scott and incoming Board Member Bruce Mackenzie talk about what it means to be an IASB member, what it’s like to work remotely and the importance of stakeholder engagement to the work of the IASB.

IFRS Interpretations Committee Chair and Vice-Chair of the Board Sue Lloyd joins Technical Staff member Patrina Buchanan to talk about Board and Committee activities to support consistent application during the third quarter of 2020. They cover Board and Committee projects on sale and leaseback transactions, and discuss the IBOR amendments issued in August, as well as recent changes to the Due Process Handbook relating to agenda decisions.

In this episode of our monthly IASB podcast, Sue Lloyd, Vice-Chair of the International Accounting Standards Board (Board), and Board Member Darrel Scott cover Management Commentary and Rate-regulated Activities, among other topics.

In this episode of our monthly IASB podcast, Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board, talk about the IBOR reform and Management Commentary projects, among others.

IFRS Interpretations Committee Chair and Vice-Chair of the Board Sue Lloyd joins Technical Staff member Patrina Buchanan to talk about Board and Committee activities to support consistent application during the second quarter of 2020. They reflect on topics under discussion at the Interpretations Committee meetings held in April and June 2020; topics covered include sale and leaseback transactions, player transfer payments, deferred tax and reverse factoring arrangements.

In this episode of our monthly IASB podcast, Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board, talk about the IBOR reform and Disclosure Initiative projects, among others, and bid farewell to two long-serving Board members.

In this episode of our monthly IASB podcast, Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board, talk about the amendment to IFRS 16 Leases to help companies with covid-19-related rent concessions as well as developments in the IFRS 17 and IBOR reform projects, among others.

Darrel Scott, member of the International Accounting Standards Board, and Vitalina Kobernik, member of the technical staff, report on the discussion at the May 2020 meeting of the Board about Amendments IFRS 17.

IASB Chair Hans Hoogervorst and IASB Vice-Chair Sue Lloyd focus on the Board’s discussions around the effects of covid-19 on our stakeholders and our work plan at a supplementary meeting held remotely on Friday 17 April 2020.

IFRS Interpretations Committee Chair and Vice-Chair of the Board Sue Lloyd joins Technical Staff member Patrina Buchanan to talk about Board and Committee activities to support consistent application during the first quarter of 2020. They reflect on topics under discussion at the Interpretations Committee meetings held in January and March 2020, as well as other developments in that period. They cover the various questions discussed at these meetings, including the agenda decisions finalised on the definition of a lease, on training costs and on hyperinflationary foreign operations.