20/11/2024 - The September 2024 IFASS meeting report is out

Read now key insights and discussion highlights from the September 2024 IFASS meeting.

On 24-25 September 2024, IFASS held a meeting in London that was hosted by the International Accounting Standard Board and 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:

Power Purchase Agreements (Panel discussion moderated by the AASB, and presentations by AcSB, NZ XRB, GLASS, and ANC)
IFRS 17 implementation issues in Canada (presentation by the AcSB)
FRC-UK update: aligning UK GAAP with IFRS 15 and IFRS 16; Going concern; and Reduced Disclosures (presentation by the FRC-UK)
IAS 37 Targeted Amendments (panel discussion moderated by the IASB and presentations by AcSB, ANC and EFRAG)
Jurisdictional Updates - Asian journey to SR adoption (panel discussion moderated by the MASB and presentations by the ISSB, MASB, ACRA, and IAI)
Sustainable Philantropy Framework (presentation by the NCSS of Singapore)
Sustainability reporting - Small, Medium-sized Enterprise (SMEs) reporting (panel discussion moderated by Chiara del Prete and presentations by AOSSG, CINIF, and EFRAG)
Intangible Assets (panel discussion moderated by EFRAG and presentations by the IASB, AASB and UKEB).
Cash-flow reporting (panel discussion moderated by the AcSB and presentations by EFRAG, AASB, and AcSB)
INPAG and IPSASB updates (presentations by INPAG and IPSASB)
Connectivity between Financial Reporting and Sustainability Reporting (panel discussion moderated by the UKEB and presentations by NZ XRB, EFRAG, and AcSB)
Climate-related and Other Uncertainties in the Financial Statements (panel discussion moderated by the IASB and presentations by the IASB, ASSB and OIC)
ISSB interoperability (presentation by the ISSB)
Jurisdictional perspectives on climate-related standards (panel discussion moderated by EFRAG and presentations by the ISSB, ARDF Taiwan, International Standards of Auditing Lebanon, GLASS, and NZ XRB)

The report with key messages and points of discussion on the above topics has now been issued.

The next IFASS meeting will be held on 12-14 March 2025. It will be an in-person meeting held in Naples, Italy.

The International Forum of Accounting Standard Setters is a group of national accounting standard-setters from around the world, plus other organisations that have a close involvement in corporate reporting. To receive more information, or join IFASS, please contact secretariat@ifass.net.

Related project: EFRAG and IFASS