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IFRS - Wrapping up 2022
IASB Effective Pronouncements 2022-2024
At Deloitte, we aim to assist our clients in keeping up with the latest updates and changes in the market worldwide. IFRS - Wrapping up 2022 was developed to be a useful reference with a high-level summary of the pronouncements published by IASB that will become effective on or after 01 January 2022.
The year of 2022 has witnessed the slowdown in global economic activity with inflation higher than ever seen in decades. This causes a pervasive impact on business in many aspects and levels throughout the world. To assist in the accounting close for the Financial year ended 31 December 2022, we would like to bring to your attention amendments published by the IASB that came into effect from 01 January 2022.
The publication covers:
Amendments effective for Financial year 2022
Annual Improvements to IFRS Standards 2018 - 2020
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
IAS 16 Property, Plant and Equipment
IFRS 3 Business Combination reference to the Conceptual Framework
Amendments effective for Financial year 2023
IFRS 17 Insurance contracts
IFRS 4 Insurance contracts
IAS 1 Presentation of Financial Statements and Practical Statement 2
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
IAS 12 Income Taxes
Amendments effective for Financial year 2024
Amendments to IFRS 16: Lease Liability in a Sale and Leaseback
Amendments to IAS 1 — Presentation of Financial Statements
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