News

EFRAG has published its draft comment letter on the 2015 IASB Agenda Consultation

EFRAG has published its draft comment letter in response to the Request for Views of August 2015 IASB Agenda Consultation discussing the main priorities for the IASB’s work plan. EFRAG is seeking constituents’ views on our draft comment letter by 30 November...

IASB to consult on temporary measures relating to the effective dates for IFRS 9 and the new insurance contracts Standard

The IASB has confirmed that it will consult on a package of temporary measures to address concerns about issues arising from implementing the financial instruments Standard before the new insurance contracts Standard comes into effect. The measures confirmed today would amend IFRS 4 Insurance Contracts to give companies whose business model is to predominantly issue insurance contracts the option to defer the...

EFRAG Endorsement Advice on IFRS 9 Financial Instruments

EFRAG has completed its due process regarding IFRS 9 Financial Instruments and has submitted its Endorsement Advice Letter to the European Commission. EFRAG assesses that the Amendments meet all technical endorsement criteria of the IAS Regulation. In respect of its conclusion on the European public good, the endorsement advice concludes “that overall IFRS 9 is conducive to the European public good, except for the...

IASB issues Effective Date of IFRS 15

The IASB issued an amendment to the revenue Standard, IFRS 15 Revenue from Contracts with Customers, formalising the deferral of the effective date by one year to 2018. Companies applying IFRS continue to have the option to apply the Standard early. Please find the press release herewith attached.

IASB issues Request for Views 2015 Agenda Consultation

The IASB published for public comment a document Request for Views 2015 Agenda consultation seeking views on its work plan and priorities until 2020. The deadline for submitting comments is 31 December 2015.

IASB proposes to postpone accounting changes for associates and joint ventures until completion of broader review

In September 2014 the IASB issued Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28). The IASB has published the ED Effective Date of amendments to IFRS 10 and IAS 28 to propose deferring the effective date of that September 2014 amendment indefinitely, until such time as it has finalised amendments, if any, that result from its research...

Meeting OIC-FASB

On 21 July 2015, a technical meeting between OIC and FASB took place. Those attending from the OIC were the President of the International Accounting Committee, Alberto Giussani, and staff and from the FASB were James L. Kroeker, Vice Chairman, and Thomas J. Linsmeier, Board Member. The meeting focused on a number of FASB projects that are of interest to the OIC. In particular, some technical aspects were...

IASB issues the ED Clarifications to IFRS 15

The IASB published for public consultation some proposed clarifications to and transition reliefs for IFRS 15 Revenue from Contracts with Customers. The IASB is seeking comments on this exposure draft Clarifications to IFRS 15 by 28 October 2015.