EFRAG, EFFAS/ABAF and the IASB are pleased to publish a summary report of their investor outreach event held on 1 July 2015. In the joint outreach event participants discussed the role of profit or loss (P&L) and other comprehensive income (OCI).

In May 2015, the IASB published an Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting (the ‘ED’) which provides a description of the statement of profit or loss and suggests what OCI could be in undefined circumstances. The ED also seeks feedback on whether there is support for the proposed description of the statement of profit or loss and for proposals on the use of OCI.

The Board of the Institute of Financial Planning (IFP) has consulted with its members and has confirmed that it will now go ahead with itsproposed merger with the Chartered Institute for Securities & Investment (CISI) and that this is due to take place bythe end of Q4 2015 subject to contractual terms being agreed.

EFRAG is calling for candidates for its Technical Expert Group since the present mandate period of six of the sixteen EFRAG TEG members expires on 31 March 2016, including that of the EFRAG TEG Chairman. It may be expected that some reappointments will take place. EFRAG recommends that all candidates should submit their candidatures by 8 October 2015 at the very latest.

Read more ...