In it’s usual practice, the International Accounting Standards Board (IASB) had its monthly meeting on 18th and 19th February 2025 to discuss issues concerning International Financial Reporting Standards (IFRS).
This article discusses some of the agenda points discussed as well some highlights of some of the discussions. The highlights of the meeting IASB had with the International Sustainability standards board (ISSB) is also highlighted.
Main Agenda Items Discussed In IASB meeting
1. Financial Instruments with Characteristics of Equity (Agenda Paper 5)
2. Amortised Cost Measurement (Agenda Paper 11)
3. Intangible Assets (Agenda Paper 17)
4. Business Combinations—Disclosures, Goodwill and Impairment (Agenda Paper 18)
5. Maintenance and consistent application
6. Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures (Agenda Paper 32)
Highlights Of Meeting Discussions held by IASB In February
1. Financial Instruments with Characteristics of Equity
The IASB discussed possible changes to the presentation and disclosure requirements proposed in the Exposure Draft - Financial Instruments with Characteristics of Equity in response to stakeholder feedback.
The IASB discussed: possible approaches for the presentation of equity instruments; and possible refinements to the proposed disclosure requirements.
The IASB will consult stakeholder groups on the possible changes to the proposed presentation and disclosure requirements.
2. Amortised Cost Measurement
The IASB discussef the project plan. In particular, the IASB discussed:
the feedback from its consultative groups on the project’s objectives, approach and scope;
a plan for meetings with preparers to gather information about the causes of application issues; and
a tentative project timeline outlining the expected start of the IASB’s deliberations on each area.
The IASB will start its discussion on application issues within the scope of this project.
3. Amortized Cost Measurement
The IASB discussed:
the feedback from its consultative groups on the project’s objectives, approach and scope;
a plan for meetings with preparers to gather information about the causes of application issues; and
a tentative project timeline outlining the expected start of the IASB’s deliberations on each area.
The IASB will start its discussion on application issues within the scope of this project.
4. Intangible Assets
The IASB discussef:
a summary of feedback from meetings with stakeholders;
a summary of responses to IASB surveys from users of financial statements and other stakeholders; and
a summary of other research and activities.
The IASB will discuss an analysis of the feedback and other evidence gathered in the initial stage of the project, and it will then consider how best to advance the project
For full details of the IASB meeting, visit the board’s website.
Meeting Of IASB with ISSB
The IASB met with the ISSB on 19th February. The main agenda for meeting was;
Climate-related and Other Uncertainties in the Financial Statements (Agenda Paper 14)
Highlights of Discussions Of IASB with ISSB
The IASB and ISSB discussed a summary of the feedback on the IASB’s Exposure Draft Climate-related and Other Uncertainties in the Financial Statements.
The Exposure Draft proposed eight examples illustrating how an entity applies the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements.
The IASB will further analyse the feedback when it discusses the project’s direction. The ISSB will consider any implications of the feedback for its work. The boards will also consider any implications of the feedback for their connectivity-related activities.