On September 27 and 28, 2021, GLENIF actively participated in the World Standard-setters Virtual Conference 2021 event organized by the IASB. The conference allowed issuers and regulators to update and discuss the activities of the IFRS Foundation. In the interactive sessions, the attendees asked the presenters questions, held discussion panels and virtual networking with other delegates and speakers.
The WSS Conference is open to all national regulatory standard setters. The IASB invited three representatives from each issuer and regional bodies.
In the panel “How the pandemic is affecting the ways in which national standard setters relate to the IFRS Foundation and its stakeholders,” our director José Luiz R. Carvalho explained and interacted with the other participants, presenting the vision GLENIF, and the increasing activity experienced since the beginning of 2020 and the intense use of technology. He also presented the future perspective to work with the IFRS Foundation and our stakeholders, who consider that the use of technology, combined with face-to-face meetings, should continue.
In the panel “Agenda Consultation: William Biese, member of the CINIF, Issuing Council of Mexico, spoke, commenting on our letters of comments sent.
José Luiz Carvalho and Hernán Casinelli from Argentina participated in the panel on the Subsidiaries without Public Responsibility: Disclosures project, highlighting the peculiarities in the presentation and disclosure of Latin American entities.
GLENIF Vice President Felipe Pérez Cervantes, William Biese from Mexico and José Luiz Carvalho from Brazil participated in the group discussion panel on the issues of the Americas. In this session we presented GLENIF’s key comments on the IASB’s agenda consultation project and the work GLENIF has done in its 10 years of existence: responding to more than 100 IASB documents and inputs for the revision that were implemented by the IASB, such as the revaluation of assets in the IFRS for SMEs and the adoption of the equity method as an alternative in separate financial statements. We reinforce our proposal to continue with the study of high inflation (IAS 29 reform proposal) and the effects of inflation on interest rates and discount rates.
Felipe Pérez Cervantes also participated in the European Regional Group workshop, where Andreas Barckow, the new president of the IASB, participated. One of the topics discussed was the project of
Management Commentary. President Andreas Barckow confirmed that he will virtually participate in our 10th Anniversary technical event.
This was another relevant event for the profession where GLENIF actively participated among the various global participants and the IASB.