September 30, 2014 ASB issues Annual Improvements to IFRSs: 2012-2014le

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ASB issues Annual Improvements to IFRSs: 2012-2014

September 30, 2014

This edition outlines the recent amendments to four International Financial Reporting Standards (IFRSs) under the annual improvement process.

The amendments impact the following standards:

  • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Changes in methods of disposal.
  • IFRS 7 Financial Instruments: Disclosures – (i) Servicing contracts and (ii) Applicability of the amendments to IFRS 7 on offsetting disclosure to condensed interim financial statements.
  • IAS 19 Employee Benefits. Discount rate: regional market issue.
  • IAS 34 Interim Financial Reporting. Disclosure of information ‘elsewhere in the interim report’.

The amendments are effective for annual periods beginning on or after 1 January 2016, with earlier application permitted.

ASB issues Annual Improvements to IFRSs: 2012-2014
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