| Standard setting
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| Institute’s roundtable discussion on IASB Discussion Paper Business Combinations – Disclosures, Goodwill and Impairment
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| On 6 October, the Institute will hold a roundtable discussion on International Accounting Standards Board (IASB) Discussion Paper DP/2020/1 Business Combinations – Disclosures, Goodwill and Impairment. Do not miss this opportunity to share your views on the paper, which sets out possible improvements to the information companies report about acquisitions and to the accounting for goodwill. Members can submit their comments on the paper by 14 November.
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| IASB’s third webinar on Exposure Draft General Presentation and Disclosures
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| The third in a series of live webinars by the staff of the IASB on Exposure Draft ED/2019/7 General Presentation and Disclosures. This webinar covers the detailed proposals for disaggregation, the analysis of operating expenses and unusual income and expenses. A recording of the second webinar explaining the detailed proposals of subtotals and categories in the statement of profit and loss is also now available. Members can submit their comments on the exposure draft by 21 August.
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| Amendments to IFRS 17
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| The IASB issued amendments to IFRS 17 Insurance Contracts on 25 June. The amendments do not change the fundamental principles of the standard, but rather are designed to (1) reduce costs, (2) make results easier to explain, and (3) extend the effective date of IFRS 17 to 1 January 2023.
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| Project update on Business Combinations Under Common Control
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| In this project update, a board member of the IASB summarizes and discusses the IASB’s preliminary views reached in its Business Combinations Under Common Control research project. The IASB expects to issue a discussion paper in September to seek stakeholders’ views.
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| June 2020 IASB podcast and update
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| The June podcast, focusing on the IASB’s discussions at its monthly meeting, and the June Update newsletter, highlighting the tentative decisions reached at that meeting, are now available.
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| June 2020 IFRS for SMEs update
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| The June 2020 IFRS for SMEs Update newsletter, providing a summary of news, events, and other information about the IFRS for SMEs standard and related SME activities, is now available.
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| IFRS Interpretations Committee updates and podcasts
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| The June IFRS Interpretations Committee Update newsletter, summarizing the decisions reached by the Interpretations Committee at its June meeting, is now available, together with two podcasts that highlight key activities undertaken by the Interpretations Committee to support the consistent application of IFRSs.
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| Invitation to comment
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| The Institute is seeking comments on:
- Exposure Draft Practice Note 860.1 (Revised) The Audit of Retirement Schemes by 31 July.
- Exposure Draft Practice Note 810.2 (Revised) The Duties of the Auditor of an Insurer authorized under the Insurance Ordinance by 3 August.
- The International Auditing and Assurance Standards Board (IAASB) Exposure Draft ISA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) and Proposed Conforming and Consequential Amendments to Other ISAs by 14 August.
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| Revisions to Notes relating to Legislative Council Election
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| The Registration and Electoral Office has updated the Notes for Candidate and Independent Auditor of Candidate of 2020 Legislative Council Election.
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| IAASB guidance
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| The IAASB released the following COVID-19 pandemic-related guidance:
- Guidance on review engagements on interim financial information in the current evolving environment due to COVID-19; and
- Guidance on auditing accounting estimates in the current evolving environment due to COVID-19.
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| IAASB’s June board meeting
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| Meeting highlights of the IAASB’s June board meeting are now available.
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| The IESBA’s June meeting
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| Audio recordings of the International Ethics Standards Board for Accountants’ June virtual meeting are now available.
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| Invitation to comment
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| The International Integrated Reporting Council is revising the International Integrated Reporting Framework, and is seeking comments on its consultation draft. The consultation is open until 19 August.
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