Glass Board meets in Chile

On March 27 and 28, in the city of Santiago, Chile, the Group of Latin American Accounting Standard Setters – Glass – participated in a technical event promoted in partnership with the Chilean College of Accountants. The members of the Glass Directory, which has the chairman of the group, the Brazilian accountant Eduardo Pocetti, have integrated the panel on IFRS 15 – Revenue from Contracts with Custumers and IFRS 9 – Financial instruments, effective on or after 1 January 2018.

 The event was attended by the Iasb Board Member, Amaro Gomes, who highlighted the main activities of the International Accounting Standards Board (Iasb).

In this opportunity, Glass Board met the Director of Comptroller General of Chile, Patricio Balta, and the Director of Financial Analysis of the Bank and Financial Institution Board  of Chile, José Miguel Zavala.

As an item on the agenda, a presentation was made of Glass´performance in Latin America and a discussion about na adoption of IFRS and IPSAS standards in Chile.

In this period, was held two Glass meetings – one of the Glass Board and another of Glass Civil Association – to discuss subjects related to the 2018/2019 working plan, analysis of the IFRS adoption by non-profit entities, inflation Project, incidence of deferred income tax on specific transactions of Latin America, Cryptocurrency and others.

GLASS main goal is to work in partnership with the International Accounting Standards Board (IASB) on technical matters, providing input on standards issued, and proposing changes and improvements that address the specific situations in each region.