IFRS Newsletter No. 07 – 2016

The IASB sets the effective date for the future IFRS 17, Insurance Contracts, and focuses on "better communication in financial reporting" for the following years. Find out more about IFRS updates in this Newsletter.

Apart from IFRS 17 and the updated and revised conceptual framework, which will form the foundation for future standard setting, no other major standards are expected in 2017. The IASB will then focus on increasing the communication effectiveness of financial statements in which the IASB will take a fresh look at how financial information – particularly financial performance – is presented, how it is grouped, and the form it should take.

Discover our overview of the IASB’s most recent publications and details on their application.

 

SUMMARY

  • IFRS Highlights (including a discussion on the potential impact of Brexit)
  • A Closer Look ─ IASB puts standard-setting on hold to work on better communication in financial reporting

              1. Better communication in financial reporting
              2. Continued development and support for consistent implementation of standards
              3. Standard-setting
              4. Research program

  • A Closer Look ─ Standards and interpretations applicable as at December 31, 2016

              1. Effective dates for standards and amendments published by the IASB
              2. Effective dates for interpretations published by the IFRIC

  • Upcoming meetings of the IASB and the IFRS Interpretations Committee

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