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Annual Improvements to IFRSs 2018-2020 Cycle – International Accounting Standards Board

Date recorded:

At its meeting on December 13, 2018, the Board discussed the transition for the proposed amendments to IFRS 1. One proposed amendment would require a subsidiary that applies paragraph D16(a) of IFRS 1 to measure cumulative translation differences using the amounts reported by the parent, based on the parent’s date of transition to IFRS Standards. The Board tentatively decided not to permit or require previous first-time adopters of IFRS Standards to apply the proposed amendments retrospectively. All of the Board members confirmed they were satisfied that the Board has complied with the applicable due process requirements and that it has undertaken sufficient consultation and analysis to begin balloting on the exposure draft. No Board members indicated an intention to dissent from the proposed amendments to be included in the Exposure Draft. The Board plans to publish an exposure draft in the second quarter of 2019.

Review the IASB Update and podcast on the Board's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.