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:
Erkki Liikanen appointed as Chair of the IFRS Foundation Trustees
Former Governor of the Finnish Central Bank Erkki Liikanen has been appointed as the Chair of the IFRS Foundation Trustees. He succeeds Michel Prada, who has served as Chair since 2011.
The IFRS Foundation is moving
After being headquartered at 30 Cannon Street in London for 17 years, the IFRS Foundation is moving to Canary Wharf in August. Our new address from 6 August will be 7 Westferry Circus, Canary Wharf, London, E14 4HD, UK.
The Board announced the composition of its Management Commentary Consultative Group
The Board announced the membership of its Management Commentary Consultative Group, established to advise the Board as it develops proposals for updating its guidance on management commentary in financial reports.
Feature—reducing the gap between insurance and other industries
In a new feature article, Board member Gary Kabureck outlines similarities between the measurement of obligations at current value and the recognition of revenue as a company provides services to its customers in IFRS Standards.
Webcasts on the Discussion Paper Financial Instruments with Characteristics of Equity
To help stakeholders as they prepare comments, in this web presentation series, Technical Director Kumar Dasgupta and Technical Manager Uni Choi cover different chapters of the Discussion Paper Financial Instruments with Characteristics of Equity published in June 2018. The webcasts cover:
- an overview of the Discussion Paper;
- the Board’s preferred approach and classification of non-derivative financial instruments;
- the classification of derivatives on own equity; and
- the classification of compound instruments and redemption obligation arrangements.
Supporting IFRS 17 Insurance Contracts implementation—educational materials
As part of our activities to support the implementation of IFRS 17 Insurance Contracts, we published educational materials for:
- insurance contracts issued by mutual entities; and
- reinsurance contracts held, including:
- a pocket guide to reinsurance contracts held; and
- an example of a reinsurance contract held.
July IASB podcast now available
In this month’s podcast, Matt Tilling (Education Director) is joined by Hans Hoogervorst (Chair) and Sue Lloyd (Vice-Chair) to provide a summary of the main discussions held during the July Board meeting as well as other developments.
Issue 16 of the Investor Update published
The latest issue of the Investor Update is now available.
Webinar: IFRS Taxonomy 2018—recording now available
A recording of the live webinar introducing the IFRS Taxonomy 2018 is now available.
IFRS Taxonomy 2017 now available in Turkish
The files for the IFRS Taxonomy 2017 are now available in Turkish.