The latest issue of
IASB Update reports on the outcomes of the September Board meeting. Issues discussed included among others a draft Exposure Draft of an International Financial Reporting Standard for Small and Medium-sized Entities. On
IAS 37 the Board began its redeliberation of issues associated with the measurement principle proposed in the
IAS 37 Exposure Draft . This principle would require an entity to measure a liability at the amount that it would rationally pay to settle the obligation or to transfer it to a third party at the balance sheet date.
Other issues included Financial instruments and fair value measurement as included in the Memorandum of Understanding with the FASB.
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