Accounting Standards Board
Decision Summary
June 23, 2016

This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the AcSB. Decisions to publish Handbook material are final only after a formal ballot process.

 

This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the AcSB. Decisions to publish Handbook material are final only after a formal ballot process.

International Financial Reporting Standards

IFRS-related Topics

The AcSB discussed a response letter written by its staff to the Korean Accounting Standards Board and Australian Accounting Standards Board on their draft research report titled “Accounting Judgments on Terms of Likelihood in IFRS: Korea and Australia.”  The AcSB encourages stakeholders to read their final report once it is issued.

The AcSB discussed a response letter written by its staff to the IFRS Interpretations Committee in response to the Committee’s tentative decision not to add to its agenda an issue with IFRS 11 Joint Arrangements — Remeasurement of previously held interests — loss of control transactions.

International Activities

The AcSB was updated on recent discussions that the AcSB Chair and Director have had with other national standard setters, including on the research undertaken by several standard setters on pensions.

Due Process

AcSB Advisory Committees

The AcSB received feedback on discussions at recent meetings of its IFRS Discussion Group, Not-for-Profit Advisory Committee, Private Enterprise Advisory Committee and User Advisory Council.



Note: All of the AcSB’s responses to documents for comment issued by the IASB and the IFRS Interpretations Committee are available on the IASB’s website at www.ifrs.org.