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MOORE IFRS NEWS Issue 004 – April 2022 Moore IFRS News provides you with the technical updates and tips in financial reporting.

IFRS Update • IFRS for SMEs Update March 2022 This March update included:  an update on the January 2022 meeting of the SME Implementation Group (SMEIG);  an update on nominations for membership of the SMEIG;  a reminder of online resources for SMEs; and  a note from Marta Cristina Pelucio Grecco, a member of the SMEIG.

Read more.
• IASB Podcast March 2022 This March Podcast discussed: o the latest developments on the Third Agenda Consultation and Management Commentary; o an assessment of stakeholder feedback received on the Post-Implementation Review of IFRS 9—Classification and Measurement; o reasons for why a further analysis is required for Financial Instruments with Characteristics of Equity; o an update on the Primary Financial Statements; o decisions made on the Business Combination under Common Control project; o the project plan for Extractive Activities; o the IFRS Interpretation Committee’s agenda decision for TLTRO III transactions; and 1 MOORE IFRS NEWS is prepared by Moore Global Network Limited (“Moore Global”) and is intended for general guidance only.
Professional advice should be taken before applying the content of this publication to your particular circumstances.

While Moore Global endeavours to ensure that the information in this publication is correct, no responsibility for loss to any person acting or refraining from action as a result of using any such information can be accepted Moore Global.

This publication contains certain links to resources located on servers, or websites, maintained by third parties, over whom we have no control.
Accordingly, Moore Global accepts no responsibility or liability for any of the material contained on those servers or the accuracy or legality of information contained on other websites.

o considerations given to the disclosure requirements and measurement of financial guarantee contracts for the second comprehensive review of the IFRS for SMEs Accounting Standard.

Access the podcast here.


• IFRIC Update April 2022 This April update discussed:  Agenda decisions for the IASB's consideration o Principal versus Agent: Software Reseller (IFRS 15 Revenue from Contracts with Customers)  Other matters o Work in Progress Read more.
• IFRS Interpretations Committee Podcast April 2022 This April podcast covered topics on: o Demand Deposits with Restrictions on Use arising from a Contract with a Third Party o TLTRO III Transactions o Transfer of Insurance Coverage under a Group of Annuity Contracts o Negative Low Emission Vehicle Credits o Lessor Forgiveness of Lease Payments o SPAC Transactions—Classification of Public Shares and Accounting for Warrants at Acquisition IASB narrow scope projects o Access the podcast here.
2 MOORE IFRS NEWS is prepared by Moore Global Network Limited (“Moore Global”) and is intended for general guidance only.

Professional advice should be taken before applying the content of this publication to your particular circumstances.

While Moore Global endeavours to ensure that the information in this publication is correct, no responsibility for loss to any person acting or refraining from action as a result of using any such information can be accepted Moore Global.
This publication contains certain links to resources located on servers, or websites, maintained by third parties, over whom we have no control.

Accordingly, Moore Global accepts no responsibility or liability for any of the material contained on those servers or the accuracy or legality of information contained on other websites.
Corporate / Sustainability Reporting • ESG Governance: Recommendations for Audit Committees The European Commission (EC) proposal for a Corporate Sustainability Reporting Directive (CSRD) assigns tasks for company sustainability reporting and assurance to audit committees.

Accountancy Europe released a position paper with recommendations for audit committees to address this extended mandate on ESG matters.
• Sustainability Related Disclosures: ISSB Exposure Drafts The International Sustainability Standards Board (ISSB) launched a consultation on its first two proposed standards on 31 March 2022.

  IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information IFRS S2 Climate-related Disclosures (Climate Exposure Draft) The ISSB is seeking feedback on the proposals by 29 July 2022 and is expected to release new standards by end of the year, subject to the feedback.
CONTACTS MOORE IFRS NEWS EDITOR Karen Wong, Director of Quality, Asia Pacific Region, Moore Global Email: karen.wong@moore-global.com 3 MOORE IFRS NEWS is prepared by Moore Global Network Limited (“Moore Global”) and is intended for general guidance only.

Professional advice should be taken before applying the content of this publication to your particular circumstances.
While Moore Global endeavours to ensure that the information in this publication is correct, no responsibility for loss to any person acting or refraining from action as a result of using any such information can be accepted Moore Global.

This publication contains certain links to resources located on servers, or websites, maintained by third parties, over whom we have no control.
Accordingly, Moore Global accepts no responsibility or liability for any of the material contained on those servers or the accuracy or legality of information contained on other websites.