News September 2012 Post Implementation Review IFRS 8 ‘Operating Segments’ event

Post Implementation Review IFRS 8 ‘Operating Segments’ event

11 September 2012

The Financial Reporting Council (FRC) is inviting preparers and users to a discussion with IASB staff to help gather evidence on the implementation of IFRS 8 ‘Operating Segments’.

The aim of the meeting is to assist FRC in formulating a response to the IASB’s post implementation review that reflects the views of the UK. IFRS 8 is the first international accounting standard to be subject to a post-implementation review (PIR).  As part of the post implementation review the IASB issued a Request for Information in July.  The aim of the review is to assess the effect of the new requirements on investors, preparers and auditors.

The meeting will also include a short presentation by Dr Louise Crawford on the work and results of ICAS's recent independent research report "Operating Segments: The usefulness of IFRS 8". This study investigates the issues surrounding the implementation of IFRS 8 and considers two research questions: it examines whether the segmental disclosures by UK companies changed after their adoption of IFRS 8 and canvasses the views of users, preparers and auditors of accounts as to whether or not IFRS 8 produces more decision-useful information than was the case with its predecessor.

You are invited to participate in the following meeting to be held at the FRC offices:

  • Users and Preparers – 9 October, 2012 – 4-6pm

Please note that due to low demand the Preparers' Meeting on 20 September 4-6pm has been cancelled and the User Meeting scheduled for 9 October 4-6pm has been opened to Preparers too.

EFRAG will be attending this event.

To reserve a place please contact Sue Kemp

Should you have any questions, please contact Jennifer Guest