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Please find below a brief summary of news and events from the IFRS® Foundation over the past month:

New IASB members appointed

Patrina Buchanan and Hagit Keren will be joining the International Accounting Standards Board (IASB) in December 2022 and 2023, respectively. Ms Buchanan will fill a European position and Ms Keren will take an Asia-Oceania position. Both will serve five-year terms.

African ministers express support for ISSB’s work

African ministers have expressed support for the work of the International Sustainability Standards Board (ISSB) in a communiqué that has been published.

They also encourage the ISSB to work closely with African stakeholders and to provide strong advisory and capacity building support to achieve early adoption of the ISSB’s Standards in Africa.

IASB publishes proposals to update its Accounting Standard for small and medium-sized entities

Proposed updates to the IFRS for SMEs Accounting Standard are out for consultation. The proposed updates reflect improvements made to full IFRS Accounting Standards, while keeping the Standard suitable for small and medium-sized entities.

The deadline for comments on the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard is 7 March 2023.

The September edition of the IFRS for SMEs Accounting Standard Update is also now available.

IASB updates requirements to accounting for sale and leaseback transactions amending IFRS 16

These amendments will not change the accounting for leases other than those arising in a sale and leaseback transaction.

Appointments to Sustainability Consultative Committee

Seven organisations and representatives have been appointed to the new Sustainability Consultative Committee. This follows the completion of the International Sustainability Standards Board’s appointments in August. The first meeting of this committee took place on 15 September.

Meet the Experts

Members and technical staff from the IASB and ISSB will be at this event being held at Leonardo Royal Hotel in Tower Bridge, London, on 7-8 November.

World Standard-setters Conference 2022

The recordings of the plenary sessions held during the two-day conference, on 26-27 September in London, are still available to watch.

Meeting update from the IASB

Here is the September Update from this month’s IASB meeting.

The podcast will be available on the podcast page soon.

Meeting update and podcast from the ISSB

The Update from this meeting held 20-23 September in Frankfurt can be found here.

The podcast is also now available.

Other meeting updates, papers and summaries