International update: June 2019

IASB

The most recent IASB meeting was relatively brief, taking up just two afternoon sessions and one full day. The longest sessions covered rate-regulated activities, and the thorny problem of goodwill and impairment. The former was an educational session and the latter a discussion on the way forward, and no decisions were taken on either project. The discussion on rate-regulated activities included a recap on the project to date and will be covered in a separate article next month. Besides these, areas of interest included reviews of disclosures on two standards, IAS 19, Employee Benefits, and IFRS 13, Fair Value Measurement in the context of the Board’s Disclosure Initiative project (WAR, September 2018), management commentaries and IFRS for SMEs.