IASB Other Projects - Module 11

The International Accounting Standards Board (IASB) is responsible for creating and issuing accounting standards used globally.

The International Sustainability Standards Board (ISSB) focuses on developing standards for sustainability-related disclosures, helping companies report their environmental, social, and governance (ESG) impact.

The IFRS Interpretations Committee provides guidance on the application of International Financial Reporting Standards (IFRS).

A project by the IASB or ISSB that aims to either update existing standards or create completely new accounting standards.

A project by the IASB or ISSB that focuses on making minor changes to existing standards.

A project undertaken by the IASB addressing risk management in open portfolios (macro hedging), covering situations not explicitly covered by the existing general hedge accounting standards.

A comprehensive IASB-FASB project designed to revamp the existing standards for accounting for financial instruments, with numerous sub-projects addressing specific aspects.

A project aiming to clarify the calculation of current service cost and net interest when changes happen to a defined benefit plan, like amendments or settlements.

A project addressing the determination of the exchange rate to use when the spot rate is unavailable due to long-term limitations in foreign exchange markets.

The IASB's project addressing government grants is currently on hold pending further analysis and decision-making.

This project aims to update the "Management Commentary Practice Statement" to improve the alignment and integration of financial reporting with wider corporate reporting.

This project aims to improve the structure and content of financial statements, specifically focusing on the statement(s) of financial performance.

This project aims to review the IFRS for SMEs, identifying whether it needs updating and how to do so.

This project investigates how companies should report information about supplier finance arrangements, ensuring it adequately addresses investor needs.

A draft version of a proposed new standard, rule, or policy that is released for public feedback and comment.

An effort by the IASB to simplify and reduce disclosure requirements for subsidiaries that are small and medium-sized entities (SMEs), allowing them to apply IFRSs with less reporting burden.

The IASB's initiative aimed at reviewing and improving disclosure requirements within IFRSs. It focuses on simplifying IFRS disclosure requirements, making them more effective and consistent.

An independent body responsible for developing and issuing international accounting standards. It sets the framework for financial reporting, aiming to ensure transparency, comparability, and reliability of financial information.

A governing body responsible for overseeing the IFRS Foundation, ensuring its activities adhere to its mission and principles.

A globally based non-profit organization that oversees the development and implementation of IFRSs, aiming to promote transparency and comparability in global financial reporting.

A group of experts that advise the IASB on technical matters related to accounting standards, providing input into the development of IFRSs.

Dedicated groups formed to handle specific, major projects related to the development of IFRSs. These groups focus on researching and proposing solutions for specific issues within the IFRS framework.

The IFRS Foundation is responsible for appointing, overseeing, and raising funds for the International Accounting Standards Board (IASB). It is governed by a board of 22 trustees, and plays a crucial role in promoting and enforcing high-quality global accounting standards.

The IFRS Interpretations Committee is a body of 14 members tasked with issuing interpretations on IFRS and making amendments to existing standards. These interpretations clarify ambiguous aspects of IFRS and ensure its consistent application.

The Accounting Standards Advisory Forum (ASAF) is a crucial voice within the IFRS framework. This forum provides valuable input into the technical projects of the International Accounting Standards Board (IASB). It's where stakeholders from various industries come together to offer their insights and ensure standards are relevant and practical.

The IFRS Advisory Council acts as a strategic advisor, guiding the International Accounting Standards Board (IASB) on its agendas and priorities. This group of approximately 40 members brings diverse perspectives and ensures the IASB's work aligns with the needs of stakeholders.

The IASB's overall disclosure initiative aims to improve and harmonize disclosure requirements in IFRS, making financial reporting more transparent and informative. There are various projects under this initiative, like the disclosure review and subsidiarie that are SMEs.

This project aims to develop a simplified version of IFRS that is applicable to subsidiaries that are small and medium-sized entities (SMEs). This will reduce disclosure requirements for these entities while still maintaining the core principles of IFRS.

This project is part of the IASB's overall disclosure initiative and focuses on reviewing and improving the way the board develops disclosure requirements in IFRS. It seeks to ensure these requirements are clear, concise, and effective.

An initiative aimed at aligning the requirements for calculating earnings per share across different jurisdictions. This joint project with FASB is currently on hold.