IASB member discusses materiality
IASB member Gary Kabureck has issued an article discussing the development of disclosure materiality.
News and Publications
February 2019 IASB meeting agenda posted, further potential amendments to IFRS 17 to be discussed
The IASB has posted the agenda for its next meeting, which will be held at its offices in London on 7-8 February 2019. There are five topics on the agenda, including again potential amendments to IFRS 17 'Insurance Contracts'.
IASB decides on further potential amendments to IFRS 17
At its meeting currently held in London, the IASB discussed IFRS 17 'Insurance Contracts' and 5 of the 25 concerns regarding the standard that were identified in October 2018 as candidates for potential amendments.
AAOIFI issues two new financial accounting standards
The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has issued financial accounting standard (FAS) 33 'Investments in Sukuk, Shares and Similar Instruments' and FAS 34 'Financial Reporting for Sukuk-holders'.
Additional educational module on the IFRS for SMEs on accounting policies, estimates and errors
The IFRS Foundation has issued an additional new stand-alone educational module, which supports the learning, application, and reading of financial statements prepared with the IFRS for SMEs Standard.
IASB finalises amendments to IAS 1 and IAS 8 regarding the definition of materiality
The International Accounting Standards Board (IASB) has issued 'Definition of Material (Amendments to IAS 1 and IAS 8)' to clarify the definition of ‘material’ and to align the definition used in the Conceptual Framework and the standards themselves.