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.