On 12 December 2013, the International Accounting Standards Board issued Annual Improvements to IFRSs 2010—2012 Cycle. The amendments have an effective date of 1 July 2014, but earlier adoption is permitted.
The IASB was informed of an inconsistency in the reconciliation disclosure requirements in IFRS 8 relating to an entity's reportable segments' assets.
The Exposure Draft Annual Improvements to IFRSs 2010 -2012 Cycle (ED/2012/1) published in May 2012 includes the IASB's proposal to amend paragraph 28(c) of IFRS 8 Operating Segments to clarify that a reconciliation of the total of the reportable segments' assets to the entity's assets should be disclosed, if that amount is regularly provided to the chief operating decision maker. This proposed amendment is consistent with the requirements in paragraphs 23 and 28(d) in IFRS 8.
The IASB observed that similarly to paragraph 28(d) in IFRS 8, paragraph 28(c) should also clearly indicate that the reconciliation of the total of the reportable segments' assets to the entity's assets should be reported in accordance with paragraph 23 if such amounts are regularly provided to the chief operating decision maker.
The IASB noted that not amending paragraph 28(c) when paragraph 23 was amended was merely an unintended oversight.