IFRS News

This section provides you with the most recent news in International Financial Reporting Standards (IFRS). It summarises the activities of the IFRS Foundation, International Accounting Standards Board (IASB) and the IFRS Interpretations Committee, as well as interviews about the effect of IFRS on the profession around the world.

January 2022 - Your Global Summary of IFRS News and Developments

11 February 2022
LATEST MATTERS FROM THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its remote meetings on the following dates: 15-19 November 2021 25-28 December 2021

October 2021 - Your Global Summary of IFRS News and Developments

4 November 2021
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

Classification of liabilities as current or non-current-amendments to IAS 1

27 August 2021
Following a significant number of responses to an IFRIC Tentative Agenda Decision, the IASB discussed the proposed 2020 amendments at its June 2021 board meeting where it decided to further amend IAS 1.

IFRS 16 - Accounting for VAT on lease payments by lessees

27 August 2021
FRS 16 Leases requires that the right of use asset (ROU) and the lease liability should initially be measured at the present value of the minimum lease payments (MLPs). IFRIC were asked to consider how irrecoverable Value Added Tax (VAT) charged on lease payments should be accounted for, given IFRS 16 is silent on the matter.

June 2021 - Your Global Summary of IFRS News and Developments

24 June 2021
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

January 2021 - Your Global Summary of IFRS News and Developments

10 February 2021
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

Determining the Discount Rate Under IFRS 16

30 October 2020
Many companies have underestimated the impact of the adoption of IFRS 16 Leases and the key judgements involved in the transition to the new leasing standard. 

December Year-end Accounting Reminders - IFRS

30 October 2020
Introduction This newsletter will discuss reporting requirements as of December 31, 2019. The first section will discuss key topics and reminders that financial statement preparers and reviewers should consider in preparing their statements and provide an illustrative example of common issues encountered from the past 3 quarters.

RSM INSIGHT: Applying IFRS 9 financial instruments

30 October 2020
Applications of the Provision Matrix Practical Expedient in the Calculation of Lifetime Expected Credit Losses Scope

June & July 2020 - Your Global Summary of IFRS News and Developments

19 August 2020
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

Accounting for Changes to Lease Contracts

17 July 2020
Accounting for COVID-19 related rent concessions and other modifications to lease contracts, from the lessee’s perspective Implementing IFRS 16 Leases was a substantial task for many preparers, and COVID-19 has brought a new and unexpected source of difficulty and complexity.

Coronavirus: Financial Reporting Considerations Update

28 May 2020
by RSM IFRS Advisory Committee

Auditors marking their own IFRS homework?

20 January 2020
As business becomes more complex, accounting standards become more complex and everyone needs some help with applying some of the new requirements.

Your Global Summary of IFRS News and Developments - November 2019

11 November 2019
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

IFRS News in Brief - Issue 94

6 August 2019
RSM News in Brief on IFRS summarises recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

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