23/06/2023 - Report with key messages from the April 2023 IFASS meeting available
A report with the key messages and points of discussion from the financial and sustainability reporting topics covered at the April 2023 IFASS (International Forum of Accounting Standard Setters) meeting has been issued.
Read the report here.
On 19-21 April 2023, IFASS held a meeting in Norwalk, USA that was sponsored by the FASB. The meeting was chaired by EFRAG SR TEG Chair Chiara Del Prete. At the meeting, the following financial and sustainability reporting topics were presented and discussed by IFASS participants:
Presentation on Connectivity (presentation by IASB and ISSB);
IASB Update (presentation by IASB);
IFRS 9 Amendments to classification and measurement (presentation by IASB and a break-out session);
Public sector and not-for-profit updates (presentations by AASB, CIPFA and IPSASB);
Application of Malaysian Financial Reporting Standards to Islamic Social Finance Transactions (presentation by MASB);
Primary Financial Statements: Disaggregation of expenses (a panel discussion involving EFRAG, FASB and IASB);
Australia's roadmap to sustainability reporting: climate-first approach (presentation by AASB);
ISSB update (presentation by ISSB);
ESRS update (presentation by EFRAG);
GRI framework (presentation by Bastian Buck);
Sustainability reporting on criteria for departing from the baseline of ISSB Standards to using ISSB as a baseline (presentation by AASB then a panel discussion involving AASB, CSSB, EC, KSSB, XRB, ISSB);
Connectivity between financial and sustainability reporting (a panel discussion on IASB-ISSB involving AASB, AcSB and UKEB and presentations from EFRAG and FRC);
Digital assets (presentations from AASB, AcSB and FASB);
Jurisdictional financial reporting priorities and updates (presentations from AOSSG, FASB, GLASS, PAFA and UK FRC);
Intangibles (a panel discussion on recent research involving AASB, EFRAG, GLASS and UKEB).
26-27 September 2023 in London (hosted by the IFRS Foundation)
17-19 April 2024 (in-person meeting to be held in Seoul, South Korea)
