International update: February 2021

In the two most recent IASB meetings, in December 2020 and January 2021, the board devoted a significant amount of time to hearing feedback to its consultation on the subject of introducing defined sub-totals into income statements, intended to impose more structure and comparability, and to improve transparency and discipline in the use of adjusted, non-IFRS measures for reporting earnings. This update focuses on the board’s discussions on this significant project, but begins with a brief summary of other topics recently covered.