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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:

IFRS Foundation updates jurisdiction profiles to reflect decision by 17 African countries to adopt IFRS Standards from 2019

Members of the Organisation for the Harmonization of Corporate Law in Africa (OHADA) will begin using IFRS Standards in their consolidated financial statements from 1 January 2019. Out of 166 jurisdictions profiled on our website, 144 require use of IFRS Standards by all or most publicly listed companies. Click here to find out more. 

Papua New Guinea adopts IFRS Standards and the IFRS for SMEs Standard

The Papua New Guinea Accounting Standards Board has renewed its commitment to IFRS Standards. Read more here.

Transition to the new IFRS Standard for insurance contracts

Board member Amaro Gomes outlines the materials and other support available to national standard-setters and regulators planning for implementation of IFRS 17 Insurance Contracts. The article can be accessed here.

The IFRS 17 accounting model in one page

A one-page summary of the accounting model in IFRS 17 Insurance Contracts has been published to help stakeholders understand different elements of the model and how they will be displayed on a company’s balance sheet and in its profit or loss statement. Click here to find out more.

New IFRS 17 webcast: Level of aggregation

IASB staff present a webcast on the level of aggregation requirements in IFRS 17 Insurance Contracts. The webcast is available here.

IFRS Taxonomy Update for IFRS 17 issued

The Board issued an update to the IFRS Taxonomy 2017 for IFRS 17 Insurance Contracts. Click here for more details.

IASB Research Forum 2018—Call for papers

The fifth annual IASB Research Forum will provide an opportunity for academic authors to present their papers to academics and accountants. The call for papers can be found here.

Required IFRS Standards 2018—new books available

The IFRS Foundation has publishing two editions of its book of required IFRS Standards (those effective from January 2018): one with and one without annotations. To find out more, click here.

January 2018 IFRIC Update published

The January 2018 IFRS Interpretations Committee Update is available here.

January 2018 IASB Update published and work plan updated

The January 2018 IASB Update has been published and the work plan updated. View the work plan here.