June 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 publishes 2019 Annual Report
The IFRS Foundation has published its annual report and audited financial statements for the year
ended 31 December 2019. The report focuses on how the Foundation is enhancing the
relevance of its work as the world continues to change.
Combinations of businesses under common control—one size does not fit all
In this update, departing Board member Gary Kabureck summarises and discusses the
preliminary views the Board has reached in its research project that considers
filling a gap in IFRS Standards by improving the comparability and transparency of
reporting on combinations of businesses under common control.
IASB issues amendments to IFRS 17 to help companies with implementation
In late June, the Board issued amendments to IFRS 17 Insurance Contracts aimed at
helping companies implement the Standard and making it easier for them to explain
their financial performance.
IASB investment experience bolstered with appointment of Zach Gast
The Trustees of the IFRS Foundation have appointed Zach Gast as a member of the Board from 1 August
2020. He joins the Board for an initial term of five years from the Center for
Financial Research and Analysis (CFRA) and will bolster its investor
perspective.
IFRS Foundation Virtual Conference to be held 28-29 September 2020
In response to the covid-19 pandemic and restrictions on physical conferences, we
have created a virtual conference that combines the annual IFRS
Foundation conference and annual World Standard-setters conference in one event.
Grants awarded for academic research to inform the IASB's work
Academics from Canada, Sweden, the UK and the USA have been given grants to conduct research that will be
relevant to the Board's work.
Webinar presentations about ongoing consultations
A series of recorded webinars on Exposure Draft General Presentation and Disclosures
(published 17 December 2019) and Discussion Paper Business Combinations—Disclosures, Goodwill and
Impairment (published 19 March 2020) are now available
in several languages. Information about upcoming live webinars can be found in the
news section of each project page.
Webcast and newsletter for investors
Read the latest edition of the IASB Investor Update to find out more about our response
to covid-19, new project timelines, open consultations and other resources for
investors. Listen to a special webcast featuring Board Vice-Chair Sue
Lloyd on how investors can get the most out of companies' IFRS 9 and IFRS 7
disclosures.
Listen to the latest podcasts
In this episode of our monthly IASB podcast, Hans Hoogervorst and Sue Lloyd, Chair
and Vice-Chair of the Board, talk through the IBOR reform, Disclosure Initiative and
other projects.
June 2020 IASB Update available and work plan updated
Click here to access the IASB Update and updated work
plan from the Board meeting held from 23 to 25 June 2020.