On or about 27 September 2020, the International Accounting Standards Board (IASB) has released a September 2019 IASB Update highlights preliminary decisions of the IASB after meeting remotely on 22 and 23 September 2020. The topics, in order of discussion, were:
- 2020 Agenda Consultation (Agenda Paper 24)
- Research programme update (Agenda Paper 8)
- Implementation matters, Onerous Contracts—Cost of Fulfilling a Contract (Agenda Paper 12)
- Classification of Liabilities as Current or Non-current (Amendments to IAS 1) (Agenda Paper 29)
- Business Combinations under Common Control (Agenda Paper 23)
- Financial Instruments with Characteristics of Equity (Agenda Paper 5)
- Interest Rate Benchmark Reform (Agenda Paper 14)
- Rate-regulated Activities (Agenda Paper 9-9C)
- Management Commentary (Agenda Paper 15 – 15A)
- Disclosure Initiative—Targeted Standards-level Review of Disclosures (Agenda Paper 11-11A)
- Primary Financial Statements (Agenda Paper 21)
- 2019 Comprehensive Review of the IFRS for SMEs Standard (Agenda Paper 30-30G)
- Subsidiaries that are SMEs (Agenda Paper 31)
- Extractive Activities (Agenda Papers 19–19F)
- Post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities (Agenda Paper 7).
The IASB will make their final decisions on the IFRS Standards, IFRIC Interpretations and Amendments. This will formally be balloted according to the Due Process Handbook of the IFRS Interpretations Committee and IFRS Foundation.
Source: IASB, 29 September 2020