Pwc's Cfodirect Podcast

As the end of the year approaches, it is helpful to understand what is top of mind under International Financial Reporting Standards (IFRS) and what lies ahead from the International Accounting Standards Board (IASB).In this episode, Heather Horn was joined by Gary Berchowitz, a leader in PwC’s Global Assurance Quality - Corporate Reporting Services group, and Laura Kennedy, a director in the Corporate Reporting Services group, to discuss key reminders for year-end reporting under IFRS as well as some timely updates on new IFRS initiatives on the horizon.In this episode, you’ll hear:2:37 - An overview of the current status of IFRS Accounting Standards and what’s to come, including:4:29 - A breakdown of IFRS 17, Insurance Contracts, which became effective in 2023 and applies to non-insurers as well as insurers5:50 - New amended requirements for currency transactions8:10 - The global political and economic outlook and its impact on reporting, including assumptions for accounting determinations such as impairmen