Global Standards for the world economy

Wednesday 26 February 2020

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Exposure Draft

Revenue Recognition

Exposure Draft and Comment letters

The IASB published on 19 May 2015 for consultation a proposal to defer the effective date of the revenue Standard, IFRS 15 Revenue from Contracts with Customers, by one year to 1 January 2018.

The revenue Standard was issued jointly with the US Financial Accounting Standards Board (FASB), in May 2014, with an effective date of 1 January 2017.

The main reason for the proposed deferral of the effective date is that the IASB is planning to issue an Exposure Draft of targeted amendments to the Standard, which will include clarifying some of its requirements and adding illustrative examples to aid implementation. These targeted amendments arise from discussions of the joint Transition Resource Group (TRG), established in conjunction with the FASB to support the implementation of the Standard. 

Comment letter 

View the Comment Letters.

Due process documents
Effective Date of IFRS 15 [PDF]
Exposé-sondage: Date d’entrée en vigueur d’IFRS 15 (projet de modification d’IFRS 15) (French) [PDF]
(Date limite de réception des commentaires : le 3 juillet 2015)
Proyecto de Norma: Fecha de Vigencia de la NIIF 15 (Modificaciones propuestas a la NIIF 15) (Spanish) [PDF]
(Recepción de comentarios hasta el 3 de julio de 2015)
IFRS第15号の発効日 IFRS第15号の修正案 (Japanese) [PDF]



Henry Rees
Technical Director

Patrina Buchanan
Technical Principal