Article updated 14 April 2020
The International Accounting Standards Board (Board) recognises that the covid–19 pandemic is creating difficulties for many of our stakeholders. A supplementary meeting will be held on 17 April to discuss:
- whether to propose a deferral by one year to 1 January 2023 of the effective date of an amendment to IFRS Standards issued in January— Classification of Liabilities as Current or Non-Current;
- whether to extend the consultation period for some major ongoing consultations;
- delaying the publication of forthcoming major consultation documents originally planned for 2020; and
- IFRS 16 and rent concessions granted as a result of covid-19.
Find further information here about how the IFRS Foundation is supporting its stakeholders during the pandemic. This includes educational materials on the application of IFRS 9 Financial Instruments and IFRS 16 Leases to support consistent and robust application of the Standards.
During the Board meeting to be held 21-23 April, the Board will discuss the following topics:
- Amendments to IFRS 17 Insurance Contracts
- Financial Instruments with Characteristics of Equity
- Post-implementation Reviews of IFRS 10, IFRS 11 and IFRS 12
- Maintenance and consistent application
- Management Commentary
- Comprehensive Review of the IFRS for SMEs Standard
- Disclosure Initiative—Subsidiaries that are SMEs
The meeting agenda and agenda papers can be found on the IASB meeting page.