Post-implementation review of IFRS 8
Project milestones
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The IASB carries out a post-implementation review of each new IFRS or major amendment. This is normally carried out two years after the new requirements have become mandatory and been implemented. Such reviews are normally limited to important issues identified as contentious during the development of the pronouncement and consideration of any unexpected costs or implementation problems encountered.
In March 2012 the Board decided to increase the transparency of the review process through public consultation. The Board intends to issue a Request For Views (RFV) on the implementation of IFRS 8 in June 2012.
The review may lead to items being added to the IASB’s agenda. The IASB may also continue informal consultations throughout the implementation of the IFRS or amendment.
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Project news
21 February 2012 EFRAG comments on the post-implementation review process. Click here to read the letter
23 January 2012 A presentation was made to the IFRS Foundation Trustees DPOC at their meeting in Singapore on 11 January 2012. Click here to read the update presented at that meeting. |
IASB meeting updates
20 March 2012
The IASB discussed the planned approach for the post-implementation review of IFRS 8 Operating Segments.
The Board's Due Process Handbook defines the post-implementation review process as one that looks at contentious issues and includes a consideration of implementation issues and unexpected costs. The Board agreed with the staff recommendation that the review of IFRS 8 should also include investigating whether IFRS 8 had been effective at achieving its objectives of convergence with US GAAP and improving financial reporting. The vote was unanimous
Read the full meeting update and observer notes for this project. |
Next discussed by the IASB
The post-implementation review of IFRS 8 will be discussed at a Board meeting in June 2012. |
Page last updated: 28 March 2012