The International Accounting Standards Board (IASB) today issued Annual Improvements to IFRSs 2012 2014 Cycle.
The IASB uses the Annual Improvements process to make necessary, but non-urgent, amendments to IFRSs if those amendments will not be included as part of any other project. By presenting the amendments in the form of a single document rather than as a series of piecemeal changes, the IASB aims to ease the burden of change for all concerned.
Annual Improvements to IFRSs 2012–2014 Cycle is a series of amendments to IFRSs in response to issues raised during the 2012-2014 cycle for annual improvements. These amendments result from proposals that were contained in the Exposure Draft Proposed amendments to IFRS, Annual Improvements to IFRSs 2012–2014 Cycle, published in December 2013.
The effective date of the amendments is 1 January 2016.
More information about the criteria used to determine whether a topic should be added to the Annual Improvements project can be found here.
Subscribers to eIFRS can download Annual Improvements to IFRSs 2012–2014 Cycle from here. Those wishing to subscribe to eIFRS should visit the Web Shop.
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495