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Please find below a brief summary of news and events from the IFRS® Foundation in July:
The IASB has published three consultations, proposing:
- eight examples to illustrate how companies apply IFRS Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. Comments are due by 28 November 2024;
- amendments to address accounting issues that affect companies that translate financial information from a non-hyperinflationary currency to a hyperinflationary currency. Comments are due by 22 November 2024; and
- amendments to its newest Standard IFRS 19 Subsidiaries without Public Accountability: Disclosures to reduce disclosure requirements from new Standards and amendments issued February 2021–May 2024. Comments are due by 27 November 2024.
IASB completes technical decisions on three projects
The IASB has concluded its technical decision-making on three projects:
- the Second Comprehensive Review of the IFRS for SMEs Accounting Standard project;
- the Rate-regulated Activities project; and
- the Post-implementation Review (PIR) of IFRS 15 Revenue from Contracts with Customers project.
Webcast: Overview of ESRS–ISSB Standards Interoperability Guidance
The IFRS Foundation has published a webcast that provides an overview of the ESRS–ISSB Standards Interoperability Guidance released in May 2024.
IASB issues annual improvements to IFRS Accounting Standards
The IASB issued narrow amendments to IFRS Accounting Standards and accompanying guidance as part of its regular maintenance of the Standards.
IFRS Foundation Conference 2024—Key highlights
The IFRS Foundation Conference 2024, held on 24 and 25 June, brought together over 400 delegates from more than 60 jurisdictions. The conference showcased the latest developments from the IASB and the ISSB, as well as insights from industry experts.
IASB publishes its review of impairment requirements relating to financial instruments
The IASB concluded its Post-Implementation Review of IFRS 9 Financial Instruments—Impairment Project Summary and Feedback Statement. Read the announcement about the feedback and the IASB’s response.
IASB, ISSB and IFRS Interpretations Committee meeting papers, recordings, Updates and podcasts
- IASB meeting—22–24 July, IASB Update and podcast July 2024
- IFRIC Update June 2024, Interpretations Committee podcast Q2 2024
- ISSB meeting—24–25 July, ISSB Update and podcast July 2024
- ISSB Implementation Insights podcast Q2 2024
Other meeting papers, summaries and recordings
Recently published meeting summaries
- Accounting Standards Advisory Forum—30 July
- IFRS Taxonomy Consultative Group—2 July
- IFRS Foundation Trustees—24 June
- Capital Markets Advisory Committee and Global Preparers Forum—13–14 June
- Due Process Oversight Committee—29 May
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