|
Standard setting
|
|
|
|
 
|
 |
|
Institute webcast on impairment post-HKFRS 16
|
|
A recording of the webcast on impairment post-HKFRS 16 Leases is now available on the Institute’s YouTube channel. The webcast addresses the following commonly asked questions:
- Can all the legacy operating lease payments continue to be included in the value in use calculation post-HKFRS 16?
- What discount rate should be used in determining the recoverable amount of the cash-generating unit (CGU)?
- Should the lease liability be included in the carrying amount and/or the recoverable amount of the CGU for impairment test purposes?
- What other considerations should an entity be aware of?
|
|
IASB Exposure Draft Management Commentary
|
|
Members may be interested in the following webinar and recording concerning the International Accounting Standards Board (IASB) Exposure Draft ED/2021/6 Management Commentary,which sets out a proposed comprehensive framework for companies preparing management commentary in response to investors and creditors’ changing information needs and developments in narrative reporting.
Members can submit comments on the exposure draft to the Institute by 8 October.
|
|
IASB webinar on Request for Information Third Agenda Consultation
|
|
The IASB will hold a live webinar on 14 July on the Request for Information Third Agenda Consultation, which seeks public views on what the IASB’s priorities should be over the next five years. This webinar will provide an overview of the agenda consultation and give participants an opportunity to ask questions. Members can also submit comments to the Institute by 10 August.
|
|
IASB second webinar recording on the Exposure Draft Disclosure Requirements in IFRS Standards—A Pilot Approach
|
|
A recording is now available for the second webinar held by the IASB on Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach. The webinar featured a question and answer session with board members and explored particular aspects of the proposed new approach to developing disclosure requirements in IFRSs, such as the application of judgement, comparability, auditability and enforceability and digital reporting. Members can submit their comments on the exposure draft to the Institute by 31 August.
|
|
June 2021 IASB update and podcast
|
|
The June IASB Update, highlighting the tentative decisions reached at the IASB monthly meeting, and the June podcast, focusing on the IASB discussions at its monthly meeting, are now available.
|
|
June 2021 IFRS for SMEs update
|
|
The June 2021 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.
|
|
Interview with the new Chair of the IASB
|
|
Andreas Barckow, the new Chair of the IASB, talks about his experience at the IFRS Foundation so far and his priorities for the next few years as he takes over from Hans Hoogervorst.
|
 |
|
Webinars on quality management standards
|
|
The International Auditing and Assurance Standards Board (IAASB) and the International Federation of Accountants (IFAC) will hold a series of webinars on International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements via Zoom, including question and answer sessions. Recordings will be available on the IAASB’s YouTube channel afterwards. Register now: 29 Jul, 5 Aug, 18 Aug.
|
|
IAASB June board meeting
|
|
The audio recording of the IAASB June board meeting is now available.
|
|
The state of play in sustainability assurance
|
|
A study from the IFAC, the American Institute of CPAs and The Chartered Institute of Management Accountants analyses the extent to which companies are reporting and obtaining assurance of their sustainability disclosures, which assurance standards are being used, and which companies are providing assurance services.
|
|
Value of the audit
|
|
A foundational paper by the Center for Audit Quality explores the historical importance of the audit in well-functioning capital markets, examines independence and expertise as the two key cornerstones of audit quality, and describes how independent public company auditors can apply their skills and knowledge to meet growing investor demand for company-reported information outside of the historical financial statements.
|
 |
|
IESBA webinars on revisions to the Code
|
|
Watch the International Ethics Standards Board for Accountants’ (IESBA) webinar recordings on the revised non-assurance services provisions and revised fee-related provisions to the International Code of Ethics for Professional Accountants (Including International Independence Standards) that will come into effect in December 2022.
|
|
IESBA June board meeting
|
|
The audio recording of the IESBA June board meeting is now available.
|
 |
|
Speech by the Chair of the IFRS Foundation Trustees
|
|
Erkki Liikanen, Chair of the IFRS Foundation Trustees, delivered a speech at the CFA Institute’s Global Financial Regulatory Symposium on 29 June reflecting the foundation’s work to meet the information needs of investors and other capital market participants by creating a new board to develop a global baseline of sustainability-related disclosures focused on enterprise value.
|
|
A4S issues net zero guidance
|
|
Achieving net zero greenhouse gas emissions in an organization will rely on the knowledge, skills and processes inherent within the finance function. Finance professionals are well placed to develop pathways to achieve net zero, setting interim targets, allocating funds, reporting progress and integrating net zero into decision making processes over time. The Prince’s Accounting for Sustainability Project (A4S) has developed guidance to share the practical steps that finance teams can take to support their organization to progress towards net zero emissions.
|
