IASB publishes proposals for amendments under its Annual Improvements process

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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.

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