Global Standards for the world economy

Wednesday 18 September 2019

Banner graphic

Project news


The Board tentatively decided to finalise the amendment to IAS 28

 18 July 2016


Annual Improvements to IFRS Standards 2014–2016 Cycle (Agenda Papers 12C, 12D, 12E and 12F)

The Board considered an analysis of comments on the following proposed amendments and tentatively decided to finalise them in Annual Improvements to IFRS Standards 2014–2016 Cycle:

  • Agenda Paper 12C: IFRS 1 First-time Adoption of International Financial Reporting Standards—Deletion of short-term exemptions for first-time adopters. Eleven Board members agreed to finalise this amendment, one Board member was absent.
  • Agenda Paper 12D: IFRS 12 Disclosure of Interests in Other Entities—Clarification of the scope of the disclosure requirements in IFRS 12. All 12 Board members agreed to finalise this amendment. In finalising this amendment, the Board tentatively decided not to provide transition relief. Eleven Board members agreed with this decision and one Board member disagreed.
  • Agenda Paper 12E: IAS 28 Investments in Associates and Joint Ventures—Measuring investees at fair value through profit or loss on an investment-by-investment basis. All 12 Board members agreed to finalise this amendment.

In addition, the Board tentatively decided that the effective date of the amendments to IFRS 1 and IAS 28 should be 1 January 2018, with earlier adoption permitted. The Board also tentatively decided that the effective date of the amendments to IFRS 12 should be 1 January 2017. Eleven Board members agreed with these decisions and one Board member disagreed.