International update: October 2021

The latest IASB meeting was the first time the Board members have met face to face since March 2020, although three members from New Zealand, South Africa, and Brazil were still working remotely. Recent changes to the composition of the Board meant that some of the members were meeting for the first time. The meeting was spread out over five days. As is often the case, the project on Primary Financial Statements (PFS) occupied a large part of the meeting time. However, the Board also discussed a revision of its accounting model for the Dynamic Risk Management (DRM) project, and debated Financial Instruments with Characteristics of Equity (FICE). In addition, one session was devoted to extractive industries.