January 2023

Proposed amendments to IAS 12 Income Taxes are currently out for consultation, to provide temporary relief from accounting for deferred taxes arising from the imminent implementation of the Pillar Two model rules published by the Organisation for Economic Co-operation and Development (OECD).

In this article, Rika Suzuki, IASB member, discusses the reasons for the IASB’s decisions about how companies could disclose better information about mergers and acquisitions (business combinations), and whether to retain the impairment-only model to account for goodwill or to explore reintroducing amortisation of goodwill.

This three-part series offers a deep dive into the International Sustainability Standards Board's (ISSB) two proposed standards, one on general requirements for sustainability-related disclosures and one on climate-related disclosures. The webinars explain how companies can start the ground work, data gathering and processes for ISSB reporting by using tools already widely available for businesses and investors.

The IASB is holding a live webinar for academics on Wednesday 8 February, 15:00-16:00 GMT to explain what academic research it is interested in receiving to inform its forthcoming Post-implementation Review of the hedge accounting requirements in IFRS 9 Financial Instruments (and related new disclosure requirements in IFRS 7 Financial Instruments: Disclosures).

This webcast gives a deeper dive into the proposals on financial instruments as part of the International Accounting Standards Board’s (IASB) Exposure Draft Third Edition of the IFRS for SMEs Accounting Standard.

The Capital Markets Advisory Committee (CMAC) is seeking new candidates to join from 1 January 2024 for a term of three years, renewable once for a further three years. The CMAC welcomes applications from analysts and investors from all over the world.

The Trustees of the IFRS Foundation have confirmed the appointment and reappointment of several organisations and representatives to the IFRS Advisory Council, which took effect from 1 January 2023 for a three-year period.

The Update from the meeting held 24-26 January is now available.

The Update and podcast from the meeting held in Frankfurt, Germany, 17-19 January is now available.

The topics discussed in this latest podcast include a question to the Committee relating to IFRS 16 Leases about whether a contract that includes a particular substitution right is considered a lease. The Committee has published a Tentative Agenda Decision on this topic; the comment period closes 6 February 2023.