Project summaries on IFRS 8 and discount rates published
The IFRS Foundation has published two documents summarising work by the International Accounting Standards Board (Board) on possible improvements to IFRS 8 Operating Segments and on discount rates in IFRS Standards.
IASB Update February 2019 - IBOR Reform and the Effects on Financial Reporting (Agenda Paper 14)
The Board met on 8 February 2019 to discuss proposed amendments to IFRS Standards that would address concerns that may arise leading up to IBOR reform.
IASB Update February 2019 - Amendments to IFRS 17 Insurance Contracts (Agenda Paper 2)
The Board met on 7 February 2019 to consider possible amendments to IFRS 17 Insurance Contracts
IASB Update February 2019 - Management Commentary (oral update)
The Board met on 7 February 2019 to receive an update on the project and the main messages from the Management Commentary Consultative Group meeting held in January 2019. The Board was not asked to make any decisions.
IASB Update February 2019 - IFRS for SMEs Standard —review and update (Agenda Paper 30)
The Board met on 7 February 2019 to discuss the 2019 comprehensive review of the IFRS for SMEs Standard.
IFRS 9 and intercompany loans
It is important not to underestimate the challenges of applying the new IFRS 9 model to intercompany loans.