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 24 April 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 applying:
IFRS 15 with other IFRS Accounting Standards (Agenda Papers 6A–6E); and
the requirements in IFRS 15 on the consideration payable to a customer and on a significant financing component in determining a transaction price (Agenda Paper 6F).
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.
In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:
Eight of 14 IASB members agreed with decision (a) and all 14 IASB members agreed with decision (b).
In response to the feedback, the IASB decided to confirm it will consider the priority of the matters related to applying IFRS 15 with IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements in the next agenda consultation instead of as part of the post-implementation review of IFRS 15.
All 14 IASB members agreed with this decision.
In response to the feedback, the IASB tentatively decided:
All 14 IASB members agreed with these decisions.
In response to the feedback, the IASB tentatively decided:
Seven of 14 IASB members agreed with decision (a). The Chair used his additional casting vote, making the vote eight–seven in favour of the decision. Thirteen of 14 IASB members agreed with decision (b).
In response to the feedback, the IASB tentatively decided:
Eleven of 14 IASB members agreed with decision (a) and all 14 IASB members agreed with decision (b).
Feedback Statement
International Accounting Standards Board April 2024