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Thursday 18 December 2014

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Post implementation reviews

IASB meeting summaries and observer notes


 IASB 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.

The Board also discussed the staff proposal that the investigation phase of the post-implementation review of IFRS 8 should include a public consultation process. The Board accepted the staff's recommendation that the transparency of the review process should be increased through soliciting comment letters in response to a Request for Views published by the Board. The vote was unanimous.

The Board plans to discuss the post-implementation review of IFRS 8 at its May meeting when it will consider the topics for inclusion in the Request for Views.

Date: 3/20/2012