International Accounting Standards Board (IASB)

💬 In his keynote address at the IFRS Foundation Conference on 24 June 2024, #IASB Chair, Andreas Barckow, delved into the challenges posed by the increasing complexity in the business environment and the IASB’s approach to managing this complexity. 👇 Watch the video below to find out more about his insights. Read his full speech: https://lnkd.in/erBbBW4U #IFRSConference24 #IFRSAccounting #FinancialReporting 

📣 IFRS 19 Subsidiaries without Public Accountability: Disclosures was issued in May.     #IFRS19 will simplify reporting systems and processes for companies, reducing the costs of preparing eligible subsidiaries’ financial statements while maintaining the usefulness of those financial statements for their users.    💬 Earlier this year, IASB technical staff member Özlem Arslan sat down with Michael Stewart, Senior Expert of Financial Reporting at Huawei, to discuss the benefits of the then-upcoming Accounting Standard.  https://lnkd.in/efPtiXZb   #IFRSAccounting #subsidiaries

💭 Are you an SME that applies the IFRS for SMEs Accounting Standard? 💭 Have you entered into arrangements in which a financial institution pay the invoices you have received from your suppliers and you pay the financial institution an amount agreed in the arrangement? If so, the #IASB has proposed new disclosure requirements for these supplier finance arrangements that may impact your financial reporting. The Exposure Draft Addendum to the 2022 Exposure Draft for the Third edition of the IFRS for SMEs Accounting Standard introduces amendments, requiring SMEs to disclose key information about the terms, conditions, and effects of their supplier finance arrangements. 👐 The IASB invites SMEs and other stakeholders to provide feedback on these proposals by the comment deadline of July 31, 2024. 👉 Access the full Addendum Exposure Draft here: https://lnkd.in/eCUfxN7m #IFRS #IASBExposureDraft #Accounting #SME

🎧New #IASBPodcast Episode    Join #IASB Chair Andreas Barckow, IASB Member Ann Tarca, and IASB Executive Technical Director Nili Shah as they discuss the key highlights from the IASB meeting held on 19 – 20 June. 📅    This episode covers:  ✅ Post-implementation Review of IFRS 16 Leases (00:58)   ✅ Joint IASB-FASB meeting (4:18)   ✅ Provisions (6:17)   ✅ Pollutant Pricing Mechanisms (8:26)   ✅ Management Commentary (11:32)    🔗 https://lnkd.in/e46rT5wb    You can also find our podcasts on YouTube, iTunes and Spotify.     Do you have a question that you would like us to discuss in a future podcast episode? Email us: [email protected].     #IFRS #IFRSAccounting #Accounting  

The Trustees of the IFRS Foundation have appointed Michel Madelain as Managing Director of the IFRS Foundation. Michel is an experienced and highly regarded leader. He previously served as President and Chief Operating Officer of Moody’s and is a former partner of EY France. Michel knows the IFRS Foundation well; he served as a Trustee of the IFRS Foundation from 2018 to 2023. Michel is appointed for a two-year term, starting in September. We look forward to welcoming him! Find out more: https://lnkd.in/e2h2v2eW   #IFRS #IASB #ISSB  International Accounting Standards Board (IASB) International Sustainability Standards Board (ISSB)

Did you know that an IFRS Digital Subscription grants you access to premium features that enhance efficiency and collaboration? If you frequently browse the IFRS Accounting Standards Navigator with your free IFRS.org account, you might be ready for something more powerful. With an IFRS Digital Subscription, you get up-to-date IFRS Accounting Standards, past documents from the digital archive with personal filtering options and premium access to the IFRS Accounting Standards Navigator. 📃 Read our handy one-page guide to the IFRS Digital Subscription: https://lnkd.in/eMVRFCjz 👉 Follow this link to subscribe: https://lnkd.in/ep-B2VqQ

The #IASB has proposed narrow-scope amendments to ensure that financial statements more faithfully reflect the effects that renewable electricity contracts have on a company. These proposals amend IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures.    📺 Watch this short webcast clip to learn about the concerns that arise when companies seek to designate renewable electricity contracts as a hedging instrument for future sales or purchases of electricity. Find out about the IASB’s proposed solutions to these concerns.    📝 We are inviting your feedback on these amendments until 7 August 2024: https://lnkd.in/dbyR_bpY   Watch the full webcast: https://lnkd.in/emJRa667   #IFRS7 #RenewableElectricity #PPAs #PowerPurchaseAgreements #IASBExposureDraft #hedgeaccounting  

The IFRS Foundation Conference concludes with an interactive Q&A session where attendees are engaging directly with IASB Chair Andreas Barckow, IASB Vice-Chair Linda Mezon-Hutter and ISSB Members Richard Barker and Veronika Pountcheva. The board members are answering questions on a wide range of topics including on connectivity between the IASB and ISSB, implementation of IFRS S1 and S2 and the voluntary nature of IFRS 19. #IFRSConference24

Here’s a peek into some of our breakout sessions at the IFRS Foundation Conference. Over both days of the conference attendees have been   participating in interactive sessions, including on: (Picture 1) Consistent application of IFRS Accounting Standards—Hot topics, led by:  Bob Uhl, IASB Member  Dr. Jens Freiberg, IFRS Interpretations Committee member and Head of BDO Germany’s Accounting Advisory and Technical Accounting Groups   Dennis Deysel, IASB Technical Staff (2) Financial Instruments update, led by:  Zach Gast, CFA, IASB Member  Hagit Keren, IASB Member  Riana Wiesner, IASB Technical Director  IASB Technical Staff from the Financial Instruments project teams (3) Business Combinations—Disclosures, Goodwill and Impairment, led by:  Nick Anderson, IASB Member  Bertrand Perrin, IASB Member  Rika Suzuki, IASB Member  Jawaid Dossani, IASB Technical Director (4&5) IFRS 18 Presentation and Disclosure in the Financial Statements, led by:  Nick Anderson, IASB Member   Aida Vatrenjak, IASB Technical Director Roanne Hasegawa, IASB Technical Staff Nick Barlow, IASB Technical Staff   Juliane-Rebecca Upmeier, IASB Technical Staff #IFRS18 #IFRSConference24

We’ve kicked off day two of the IFRS Foundation Conference with a panel session on IFRS 18 Presentation and Disclosure in Financial Statements.    The session is introducing the key requirements in IFRS 18, with insights from practitioners.    Chair of the session: Nick Anderson, IASB Member Presenters: Aida Vatrenjak, IASB Technical Director Roanne Hasegawa, IASB Technical Staff Panellists: - Ciara Lynch, Head of External Reporting and Specialist Accounting, GSK - Srinath Rajanna, EVP & Group Financial Controller, DP World and Global Preparers Forum Member - Nicola Shanley Sawaki, EY Japan IFRS Leader - Anthony Scilipoti, FCPA, FCA, CPA (Illinois), President and CEO, Veritas Investment Research Corporation and Capital Markets Advisory Committee #IFRSConference24 #IFRS18