Nexia IFRS Link March 2018

IFRS link is a tech­ni­cal news­let­ter tar­ge­ted at au­di­tors/ac­coun­tants. It pro­vi­des up­dates and in­for­ma­tion re­la­ting to new stan­dards and IFRS.

CON­TENTS:

No­tes on the con­so­li­da­ted fi­nan­cial state­ments

• Re­qui­red dis­clo­su­res in the no­tes on the le­gal sta­tus of IFRS
• Ef­fects of new or amen­ded stan­dards and in­ter­pre­ta­ti­ons (IAS 8.28)
• New or amen­ded stan­dards and in­ter­pre­ta­ti­ons not ap­plied (IAS 8.30)
  

IASB

• IASB publis­hes amend­ments to IFRS 9
• IASB fi­na­li­zes amend­ments to IAS 28
• IASB publis­hes ex­po­sure draft on IAS 8 en­tit­led “Ac­coun­ting Po­li­cies and
  Ac­coun­ting Esti­ma­tes”
• Publis­hed ex­po­sure draft on the de­fi­ni­tion of “ma­te­rial”
• Prac­tice state­ment “Ma­king Ma­te­ria­lity Jud­ge­ments” is­sued
• Up­date of the IFRS Ta­xo­nomy for the sub­mis­sion of elec­tro­nic fi­nan­cial
  state­ments
  

Other stan­dard set­ters

• Q&A do­cu­ment on the in­tro­duc­tion of IFRS for SMEs
  

EU En­dor­se­ment

• EU En­dor­se­ment Sta­tus Re­port

ESMA

• ESMA 2018 key au­dit areas
• ESMA is­sues fur­ther Q & As on the Gui­de­lines on Al­ter­na­tive Per­for­mance
  Mea­su­res
• ESMA: En­force­ment de­ci­si­ons publis­hed