The International Accounting Standards Board (IASB) began the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers in the second half of 2022.
In June 2023, the IASB published the Request for Information to seek stakeholders’ views on the requirements in IFRS 15. The comment period closed on 27 October 2023.
In January 2024, the IASB started its discussions of the feedback on the Request for Information and discussed the plan for the next phase of the project.
The IASB met on 20 March 2024 to analyse stakeholder feedback on the Request for Information Post-implementation Review of IFRS 15 Revenue from Contracts with Customers. The analysis covered matters raised by stakeholders in relation to:
In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:
All 14 IASB members agreed with these decisions.
The IASB also discussed matters related to the consideration payable to a customer. The IASB was not asked to make any decisions on these matters.
In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:
Thirteen of 14 IASB members agreed with decision (a) and all 14 IASB members agreed with decisions (b)–(c).
In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:
Twelve of 14 IASB members agreed with decisions (a)–(b) and all 14 IASB members agreed with decision (c).
Feedback Statement
Accounting Standards Advisory Forum March 2024