Accounting Alerts

9 August 2022

Recent Updates

IFRS Interpretations Committee Updates

The Committee met in June here. Items discussed included: 

• Negative Low Emission Vehicle Credits (IAS 37) – final agenda decision published in July 2022. 

• Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9) –  tentative agenda decision subject to IASB confirmation. 

Guidance Materials

• PBE FRS 48 Service Performance Reporting - a short guide  

Upcoming Events

• For-profit ‘Need to Know’ series on tier 1 and 2 accounting standards 16 August. 

• Not-for-profit and public sector ‘Need to Know’ series on  tier 1, 2, 3 and 4 accounting standards, 17 August. 

• Accounting Standards Board meeting, 11 August. Key topics include:   
    - Exposure Draft: PBE Leases (IPSAS 43 and IFRS 16 alignment project) 
    - PBE IFRS 17 Insurance Contracts (Final standard development) 
    - PBE Public Sector Specific Financial Instruments (Final pronouncement)  

Current Consultations

• Disclosure of fees paid to audit firms – Closes 30 September 2022 

• Tiers 3 and 4 Not-for Profit and Public Sector reporting – Closes 30 September 2022