RECORDINGS | EAA, EFRAG ICAS joint webinar: The price of time - discounting in financial reporting - 9/07/21

​Stakeholders can now watch the recordings of the EAA, EFRAG ICAS joint webinar: The price of time: discounting in fiancial reporting held on Friday 9 July. Through the event academics and experts debated the issue of discounting in financial reporting.

​On Friday 9 July 2021, EAA, EFRAG and ICAS hosted a joint webinar, in which academics and experts debated the issue of discounting in financial reporting.​​​

Guy Jubb, Chair ICAS Research Panel opened the event and set the scene.

The following studies on discount rates in financial reporting were  presented: 

  • The Theory and Practice of Discounting in Financial Reporting Under IFRS by Iain Clacher, Alan Duboisée de Ricquebourg, Mark C. Freeman and Con Keating
  • Discount rate in accounting: How practitioners depart the IFRS Maze Towards the end of determinism in accounting by Véronique Blum and Pierre Thérond
  • Black Box Accounting: Discounting and disclosure practices of decommissioning liabilities by Giovanna Michelon, Mari Paananen and Thomas Schneider

The presentation of the three studies (including Q&A sessions) served as input to the panel debate, moderated by Erlend Kvaal, EFRAG TEG member and EAA Financial Reporting Standards Committee member on various aspects of discounting with:

  • André Geilenkothen, EFRAG Pension Plans Advisory Panel member, Aon Hewitt
  • Sue Lloyd, Vice-Chair IASB
  • Andrea Schenone, EFFAS Commission on Financial Reporting
  • Allister Wilson, Assurance Partner, EY

Acadmics joining the panel discussion: Pierre Thérond, ISFA Actuarial School, Iain Clacher, Leeds University Business School and Mari Paananen, University of Gothenburg, School of Business, Economics and Law.
Annalisa Prencipe, EAA President provided the closing remarks.

 

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