IASB proposes a new approach that opens the way to better communication in the
notes in financial statements
The Board is seeking public comments on a new approach to developing disclosure requirements in IFRS
Standards and new disclosure requirements for the Standards on
fair value measurement and employee benefits. These proposals would enable companies
to enhance their judgement and reduce ‘boilerplate’ information, giving investors
more useful information.
IASB extends support for lessees accounting for covid-19-related rent
The IFRS Taxonomy 2021 is based on IFRS Standards as at 1 January
2021, including those issued but not yet effective. The IFRS Taxonomy enables
electronic reporting of financial information prepared in accordance with IFRS
Standards. Preparers can use it to tag disclosures, making them easily accessible to
investors who prefer to receive financial information electronically.
In this podcast, Hans Hoogervorst and Sue Lloyd, Board Chair and Vice-Chair,
talk about the Board’s discussions at both its supplementary
meeting on 10 March and its regular meeting on 23 and 24 March 2021. Topics covered
include on IFRS 16 Leases and covid-19-related rent concessions, feedback on
the Goodwill and Impairment consultation, decisions taken in the Primary Financial
Statements project and next steps on the Request for Information Comprehensive
Review of the IFRS for SMEs Standard. You can also read the IASB
Updates for the supplementary meeting and the regular March meeting.