The process by which an individual determines direction, influences a group, and directs the group toward a specific goal or mission.
IFRSs are constantly changing and evolving making it hard to keep on top of all the very
latest developments. While there are relatively few changes coming into effect in 2022
when compared to previous years, there are still a number of important amendments to
existing standards that need to be considered. There is also a new standard on insurance
contracts – that will affect more than just insurers – that is effective in 2023 and which
should be considered carefully sooner rather than later.
There are, of course, plenty of further changes in the pipeline. The IASB work plan is
packed with projects and its recent agenda consultation will set the tone for the next five
years of standard-setting. In some ways, the biggest challenge facing companies is no
longer applying new standards for the first time but figuring out how to apply existing
standards to new circumstances.
This course will provide an update on all the latest developments and trends in the world
of IFRS, illustrating them with practical examples where appropriate.
By the end of this workshop, participants will be able to:
• Recognize the new and revised IFRSs applicable in 2022 and beyond
• Analyze the impact of Brexit, international inflation, energy crisis, COVID-19 and
climate change on the financial statements
• Understand the growth of climate-related disclosures
• Determine key areas to focus on in 2021/22
• Study the IASB’s workplan
• Analyze the IASB’s agenda consultation
• IFRS Update Conclusions and Lessons Learned