IASB published an updated work plan, along with the update of its meeting in May 2018. The IASB update highlights preliminary decisions of the Board. The key topics discussed at the May meeting included primary financial statements, guidance for the IASB to use when developing and drafting disclosure requirements, research project on business combinations under common control, rate-regulated activities, goodwill and impairment, and IFRS 16 on leases. Additionally, IAIS received an update on the work to support implementation of IFRS 17 on insurance contracts, including the meeting of the Transition Resource Group for IFRS 17, which was held on May 02, 2018.
Keywords: International, Accounting, Insurance, Work Plan, IFRS 17, Disclosure Requirements, IASB
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BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
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BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
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FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.