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Final stage

On 25 September 2014, the International Accounting Standards Board issued Annual Improvements to IFRSs 2012–2014 Cycle. The revised standards have an effective date of 1 January 2016, but earlier adoption is permitted.


The objective of this project was to add guidance to IFRS 7 to clarify how the principle in paragraph 42C of IFRS 7 is applied to a servicing contract for the purpose of the transfer disclosure requirements in paragraph 42E-42H of IFRS 7.