October 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:
Trustees to host webinar and moderated Q&A on sustainability consultation
The IFRS Foundation Trustees will host a morning and afternoon session of a
live webinar on their Consultation Paper on Sustainability
Reporting on Tuesday 17 November 2020. Prospective attendees
can register and submit questions beforehand. Also, Trustee Teresa Ko asks whether
there is a need for a global set of internationally-recognised sustainability
standards, and what possible role the IFRS Foundation could play in their
development in her article Hope for a New Paradigm.
Applying IFRS Standards in 2020—impact of covid-19
Board member Mary Tokar and Technical Staff Member Sid Kumar provide an overview of
the key financial reporting considerations that may be on the minds of preparers,
auditors, investors and regulators as they tackle the complexities associated with covid-19.
Being a member of the International Accounting Standards Board
Darrel Scott, who has just completed his second term as a member of the Board,
discusses his experience with the man who has replaced him in
the Africa seat: Bruce Mackenzie.
Compilation of Agenda Decisions—Volume 3 published
The IFRS Foundation's third Compilation of Agenda Decisions brings together
agenda decisions published by the IFRS Interpretations Committee (Committee) from
April to September 2020. They include those agenda decisions related to IFRS 16
Leases, IAS 12 Income Taxes and IAS 38 Intangible Assets.
Also, listen to the October 2020 IFRS Interpretations Committee podcast, which
covers topics such as IBOR amendments and recent changes to the Due Process
Handbook relating to agenda decisions.
Changes proposed to the IFRS Taxonomy 2020
The IFRS Foundation has proposed changes to the IFRS Taxonomy 2020 to support high-quality
tagging of primary financial statements. The proposal is currently open for
comment.
Forthcoming webinars on Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment
As part of the Board's outreach on Discussion Paper Business
Combinations—Disclosures, Goodwill and Impairment, there are a number of
webinars taking place. These are a Japanese session with Board member Rika Suzuki and a
joint investor outreach webinar. Also watch the recording of an
English webinar with Board member Tom Scott.
IFRS Foundation student visit dates for 2021 now available
We are pleased to announce the 2021 dates for student visits to the IFRS Foundation. Due to the continued
covid-19 pandemic, the visits will be virtual meetings only for the foreseeable
future. The visits provide an excellent opportunity for students to interact with a
member of Board and a member of the technical staff in sessions that often involve
multiple universities from around the world.