The common enforcement priorities encompass the following topics:

  1. Preparation and presentation of consolidated financial statements and related disclosures;
  2. Financial reporting by entities which have joint arrangements and related disclosures; and
  3. Recognition and measurement of deferred tax assets.

These topics are important, as they either introduce significant changes to accounting practices following the implementation of new standards, or because the current economic environment poses particular challenges to issuers in the application of certain IFRS requirements, notably when forecasting future taxable profits in periods of low economic growth.

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