Where we stand on new standards

Multiple-choice questions. In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

What is the proposed impact of the disclosures about uncertainties in financial statements?

Input into IFRS Sustainability Disclosure Standards

No adjustments will result from the proposals

Create a new IFRS Accounting Standard

Input examples to IFRS Accounting Standards

Which of the following is an example being produced by the IASB in respect of disclosures about uncertainties in financial statements?

Disclosures around events after the reporting period under IAS 10

Disclosures about acquisitions under IFRS 3

Disclosures about credit risk under IFRS 7

Disclosures around share-based payments under IFRS 2

The 'translation to a hyperinflationary presentation currency' project will result in changes to which standard?

IAS 21

IFRS 3

IAS 29

IFRS 5

The 'translation to a hyperinflationary presentation currency' project will apply in which of the following cases?

None of the other answers is correct

An entity with a presentational currency in a non-hyperinflationary economy that has a foreign operation whose functional currency is the currency of a hyperinflationary economy

Two of the other answers are correct

An entity with a presentational currency in a hyperinflationary economy that has a foreign operation whose functional currency is the currency of a non-hyperinflationary economy

When are comments due for the IASB's fourth agenda consultation?

April 2026

December 2026

The consultation has been cancelled

The consultation launch has been postponed until late 2026

What is the next step in the rate-regulated activities project?

An exposure draft

A new IFRS Accounting Standard

A discussion paper

The project direction is to be established

Which of the following projects is classified as needing its direction established in 2026?

Statement of cashflows

Presentation of financial statements

Property, plant and equipment

Share-based payments

Which of the following statements is correct? Statement 1, the agenda consultation is primarily looking for comments on consolidated financial statements. Statement 2, the agenda consultation will be launched as a joint project with the ISSB in 2026

Neither statement is correct

Both statements are correct

Statement 1 is correct

Statement 2 is correct

Which of the following projects was identified as key in the previous agenda consultation?

Deferred tax

Intangible assets

Provisions

Segmental reporting

Which of the following is an example being produced by the IASB in respect of disclosures about uncertainties in financial statements?

Disclosure of disaggregated information under IFRS 18

Materiality judgments not leading to additional disclosures

Materiality judgments leading to additional disclosures

All the other answers are correct

1 unit

Where we stand on new standards

What is the proposed impact of the disclosures about uncertainties in financial statements?

Which of the following is an example being produced by the IASB in respect of disclosures about uncertainties in financial statements?

The 'translation to a hyperinflationary presentation currency' project will result in changes to which standard?

The 'translation to a hyperinflationary presentation currency' project will apply in which of the following cases?

When are comments due for the IASB's fourth agenda consultation?

What is the next step in the rate-regulated activities project?

Which of the following projects is classified as needing its direction established in 2026?

Which of the following statements is correct? Statement 1, the agenda consultation is primarily looking for comments on consolidated financial statements. Statement 2, the agenda consultation will be launched as a joint project with the ISSB in 2026

Which of the following projects was identified as key in the previous agenda consultation?

Which of the following is an example being produced by the IASB in respect of disclosures about uncertainties in financial statements?

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