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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.

IASB® Update November 2023

The IASB met on 15 November 2023 to discuss possible amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

The IASB tentatively decided to propose amendments to IAS 37:

  1. to specify the basis on which an entity calculates the discount rate it uses when measuring a provision. 
    All of the 13 IASB members present agreed with this decision. One member was absent.
  2. to specify that an entity uses a rate that reflects the time value of money—represented by a risk-free rate—with no adjustment for non-performance risk.
    Twelve of the 13 IASB members present agreed with this decision. One member was absent.

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