International Financial Reporting Standards

The IASB will propose temporary measures to address concerns about issues insurance companies are facing with implementation of the new financial instruments standard.

The International Accounting Standards Board (IASB) is reviewing whether it moved too quickly on narrow-scope amendments to IFRS 10 and IAS 28.

Taxonomy updates to reflect new reporting standards were proposed by the IFRS Foundation. Comments can be made through Oct. 30.

Clarifications and transition relief the IASB proposed for the new revenue recognition standard are designed to address financial statement preparers’ concerns.

The delay keeps IASB’s effective date in line with that of FASB, which also voted in favor of a one-year deferral earlier this month.

IFRS are largely supported by companies and investors in the European, but also have room for improvement, according to a report adopted by the European Commission.

The IASB is seeking to provide more information to investors and reduce diversity in practice through narrow-scope amendments to pension accounting standards.

The IASB plans to do more research on certain areas of its business combinations standard as a result of a post-implementation review.

The International Accounting Standards Board is updating the conceptual framework underpinning financial reporting under IFRS.

The International Accounting Standards Board (IASB) published its proposal to delay by one year the effective date of the new revenue recognition standard.

The International Accounting Standards Board agreed to propose delaying by one year the effective date of the converged revenue recognition standard, with early application permitted.