Changes in the technology used in the business world have an impact on the information and communications technology skills professional accountants need—both current accountants as well as aspiring accountants. Assessing necessary skills and meeting the need are a challenge for the accounting profession, especially when combined with the growing importance of behavioral skills.
00:15 – Introduction: Matt Waldron, IAASB Technical Director 00:36 – Highlights & Key Developments: Matt Waldron, IAASB Technical Director 03:19 – ISA 540 (Revised): Rich Sharko, Task Force Chair and IAASB Member 05:38 – ISA 315 (Revised): Fiona Campbell, IAASB Member 10:05 – ISA 220 and ISQC 1: Megan Zietsman, IAASB Deputy Chair 19:49 – Closing Remarks: Matt Waldron, IAASB Technical Director
The International Public Sector Accounting Standards Board (IPSASB) has issued Exposure Draft 64, Leases.
The Exposure Draft proposes a single right-of-use model for lease accounting that will replace the risks and rewards incidental to ownership model in IPSAS 13, Leases.
For lessees, ED 64 proposes accounting requirements that are converged with IFRS 16, Leases issued by the International Accounting Standards Board. For lessors, ED 64 proposes a right-of-use model specifically designed for public sector financial reporting.