November monthly news summary
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:
IFRS Foundation announces International Sustainability Standards Board, consolidation with CDSB and VRF, and publication of prototype disclosure requirements
As world leaders met in Glasgow for COP26, the Trustees announced three significant developments to provide the global financial markets with high-quality disclosures on climate and other sustainability issues.
Read the speech delivered by Trustee Chair Erkki Liikanen at the UN climate-change summit’s Finance Day Presidency event titled "A Financial System for Net Zero".
Watch the recording of a live panel discussion from COP26 on this topic, moderated by Clara Barby, CEO of the Impact Management Project. Liikanen was joined on the panel by Richard Samans, CDSB Chair, and Richard Sexton, Co-Chair of the Value Reporting Foundation Board.
IFRS Foundation announces new and reappointed Trustees
The IFRS Foundation recently announced the appointment of Jorge Familiar and Keiko Tashiro and the re-appointment for a second term of Trustee Chair Erkki Liikanen as well as Trustees Sarah J Al Suhaimi and Dr Suresh P Kana.
IFRS Foundation Trustees announce appointments to the IFRS Advisory Council from 2022
The Trustees have also confirmed the appointment and re-appointment of several organisations and representatives to the IFRS Advisory Council. The appointments take effect from 1 January 2022 for a three-year period.
IASB proposes narrow-scope amendments to IAS 1 to improve information companies provide about long-term debt with covenants
The proposed amendments to IAS 1 Presentation of Financial Statements aim to improve the information companies provide about long-term debt with covenants.
IASB proposes disclosure requirements to enhance the transparency of supplier finance arrangements
The IASB has also published for public comment proposed changes in disclosure requirements to enhance the transparency of supplier finance arrangements and their effects on a company’s liabilities and cash flows.
Webcasts on the proposed IFRS Standard for subsidiaries without public accountability
This series of three short webcasts explores the objectives and scope of the project as well as the proposed disclosure requirements and the structure and application of the draft Standard.
November 2021 IASB podcast available now
Topics discussed in this episode include an update on the Primary Financial Statements project, developments in the Goodwill and Impairment project, refinements to the model proposed in the Dynamic Risk Management project and a first look at feedback received from stakeholders in the IASB’s Third Agenda Consultation.
Read the detailed IASB Update.
Catch up on last month’s meeting with the October edition of the IASB podcast.
IASB Research Forum 2021: recordings and presentations now available
More than 80 academics, standard-setters and practitioners attended the forum to debate and discuss the latest accounting research that informs the IASB’s standard-setting activities. Topics included financial instruments, extractive activities, disclosures about acquisitions, value relevance of accounting information, earnings per share and the IFRS for SMEs Standard.
Reminder call for papers on corporate disclosures
Academic stakeholders have until the end of January 2022 to submit papers to the IASB, in partnership with academic journals Accounting in Europe and The British Accounting Review. Themes are compliance with mandatory disclosure requirements, specific areas of interest to the IASB and alternative research approaches.
IASB student visit dates for 2022 now available
The 2022 dates for visits by student groups studying IFRS Standards have been released.