August 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:
IASB completes response to IBOR reform with amendments to IFRS Standards
The Board has finalised its response to the ongoing interest rate benchmark reform by issuing a package of amendments to IFRS Standards. It is also consulting on a corresponding Proposed Taxonomy Update.
Meet new Board Member Zach Gast
Zach Gast joined the Board at the beginning of August. Read the interview with him in which he talks about joining remotely and his views on the role of financial reporting.
What is the due process and why does it matter?
The IFRS Foundation Trustees recently published a revised Due Process Handbook. Read the article by Alan Beller, who chairs the Trustees’ Due Process Oversight Committee, on what the due process is and how it is overseen.
Review of the IFRS for SMEs Standard—what does alignment mean?
In this article, Board member Darrel Scott provides additional context for discussions on alignment of the IFRS for SMEs Standard, currently out for consultation, with full IFRS Standards and shares his views.
Four new members appointed to the IFRS Interpretations Committee
The IFRS Foundation Trustees have appointed four new members to the IFRS Interpretations Committee. Read about Renata Bandeira, Sophie Massol, Jon Nelson and Donné Sephton.
IASB issues IFRS Taxonomy Update for Covid-19-Related Rent Concessions
The Board recently issued an update to the IFRS Taxonomy 2020 for Covid-19-Related Rent Concessions, which amended IFRS 16 Leases.
IFRS Foundation Virtual Conference 2020—speakers confirmed
The IFRS Foundation Virtual Conference on 28–29 September 2020 will include speakers from Bank J. Safra Sarasin, Carlsberg Group and the United States Securities and Exchange Commission, as well as a number of Board members and technical staff.