IASB Update July 2020
This IASB Update highlights preliminary decisions of the International Accounting Standards Board (Board). The Board's final decisions on IFRS® Standards, Amendments and IFRIC® Interpretations are formally balloted as set out in the Due Process Handbook of the IFRS Foundation and the IFRS Interpretation Committee.
The Board met remotely on 22–23 July 2020.
The topics, in order of discussion, were as follows:
- IBOR Reform and its Effects on Financial Reporting—Phase 2
- Disclosure Initiative—Accounting Policies
- IFRS Taxonomy (oral update)
- Maintenance and consistent application
- Extractive Activities
- Management Commentary
Click here to access IASPlus for an overview which summarises the staff recommendations and Board decisions.