IFRS update - Week 28-31

Een wekelijks overzicht van de laatste ontwikkelingen rond International Financial Reporting Standards (IFRS) en externe verslaggeving.

Banken moeten halfjaarbericht 2020 uitvoeriger toelichten
De halfjaarberichten van banken over de eerste helft van 2020 vragen door de coronacrisis om een uitvoeriger toelichting dan gebruikelijk. Dat stelt de Sector Commissie Banken (SCB) van de NBA in een publicatie.

IASB defers the effective date of amendments to IAS 1
The International Accounting Standards Board (Board) has issued an amendment to defer by one year the effective date of Classification of Liabilities as Current or Non-current, which amends IAS 1 Presentation of Financial Statements.
(Bron: IFRS Foundation)

Eumedion roept de IFRS Foundation op om haar missie te verbreden naar het ontwerpen van standaarden voor niet-financiële verslaggeving
Het position paper 'Towards a global, investor focused standard setter for corporate non-financial reporting' dat Eumedion vandaag publiceert, roept de IFRS Foundation (‘Foundation’) op om haar missie te verbreden.
(Bron: Eumedion)

ESMA recommends supervisory coordination on accounting for COVID-19-related rent concessions
The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has issued a Public Statement recommending coordination of supervisory action with regards to issuers' accounting for COVID-19-related rent concessions.
(Bron: ESMA)

Accounting considerations of the coronavirus pandemic (updated August 2020)
This edition provides accounting considerations for the financial effects of the coronavirus when preparing annual or interim IFRS financial statements in 2020.
(Bron: EY)

IFRS 16 COVID-19-related rent concessions amendment
As a result of the coronavirus (COVID-19) pandemic, rent concessions have been granted to lessees. Such concessions might take a variety of forms, including payment holidays and deferral of lease payments.
(Bron: PwC)

Applying IFRS: Accounting for COVID-19 related rent concessions (Updated July 2020)
In May 2020, the IASB issued Covid-19-Related Rent Concessions - Amendment to IFRS 16 Leases.
(Bron: EY)

Lease term – How long is the lease?
Lease agreements can be complex, often including multiple renewal and termination clauses. Although determining the lease term is nothing new, it takes on a new significance under IFRS 16 Leases.
(Bron: KPMG)

ESMA to assess German financial reporting system following Wirecard collapse
The European Securities and Markets Authority (ESMA) is to launch an assessment of the supervisory response in the financial reporting area by BaFin and the Financial Reporting Enforcement Panel (FREP) to the events leading to the collapse of Wirecard AG.
(Bron: ESMA)

EFRAG's Discussion Paper on the accounting for crypto-assets (liabilities) - holder and issuer perspective
EFRAG is publishing a Discussion Paper to gather constituents' views on the accounting for crypto-assets (liabilities) from a holder and issuer perspective.
(Bron: EFRAG)

High-quality disclosures needed to reflect impact of Covid-19
The Financial Reporting Council (FRC) has completed its first thematic review of company reporting since the onset of Covid-19 pandemic.
(Bron: FRC)

IFRS Update of standards and interpretations in issue at 30 June 2020
This publication contains the IFRS Update of standards and interpretations in issue at 30 June 2020.
(Bron: EY)

Applying IFRS – Accounting for cloud computing costs
This publication discusses how an entity might account for a cloud computing arrangement considering the requirements in IFRS.
(Bron: EY)

EFRAG mandated to provide recommendations on possible European Non-Financial Reporting Standards
Executive Vice President Valdis Dombrovskis has issued a request for technical advice mandating EFRAG to undertake preparatory work for possible EU Non-Financial Reporting Standards in a revised Non-Financial Reporting Directive (NFRD).
(Bron: EFRAG)

FASB proposes delay of insurance standard effective date
FASB issued a proposal Thursday that would delay the effective date of the board's new standard on long-duration insurance contracts by one year in an effort to provide relief to insurance companies affected by the coronavirus pandemic.
(Bron: Journal of Accountancy)


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