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 issued a Request for Information  (RFI) on 19 July 2012. The comment period ended on 16 November 2012. To view the comment letters, please click here.

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.

Project news

21 July 2012 The International Accounting Standards Board (IASB) began the public part of its review of IFRS 8 Operating Segments by publishing for comment a Request for Information (RFI) on the effect of implementing the standard. Click here for more information.

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 Due Process Oversight Committee (DPOC) at their meeting in Singapore on 11 January 2012.

Click here to read the update presented at that meeting.

IASB meeting updates

6 February 2013 The IASB discussed the staff’s summary of information received in response to the IASB’s Request for Information (RFI) Post-implementation Review: IFRS 8 Operating Segments.

Read the full meeting update and observer notes for this project.

14 June 2012 The IASB discussed a request from the staff for permission to publish a Request for Information (RFI) on the effect of implementing IFRS 8. As tentatively agreed at the May 2012 meeting, the structure of the proposed RFI would be based on the key decisions that were made when the IASB developed IFRS 8.

Read the full meeting update and observer notes for this project.
 
Click here to listen to the IASB meeting audio playback

Next discussed by the IASB

The post-implementation review of IFRS 8 will next be discussed in April 2013 when the topic will be the feedback summary and the IASB's report of their findings.