IASB publishes proposals for amendments under its Annual Improvements process

This edition outlines the proposals set out in the recent Exposure Draft ED/2019/2 Annual Improvements to IFRS Standards 2018–2020 (the ‘ED’).

The ED proposes amendments to the following Standards:

• IFRS 1 First-time Adoption of International Financial Reporting Standards;
• IFRS 9 Financial Instruments;
• Illustrative Examples accompanying IFRS 16 Leases;
• IAS 41 Agriculture.

Effective dates for the proposed amendments will be set after their exposure.

Earlier application is proposed to be permitted for all amendments.