The International Accounting Standards Board (IASB) reviewed the project’s prospects for progress and concluded that efficient progress is possible. Therefore, the IASB decided to keep the project on its work plan.
The IASB met on 26 April 2023 to discuss its project to make improvements to IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
The IASB discussed possible amendments to the requirements and guidance supporting one criterion for recognising a provision—the criterion that an entity has a present obligation as a result of a past event.
The IASB was not asked to make any decisions.
Decide Project Direction
International Accounting Standards Board April 2023