At its meeting on April 9-11, 2019, the Board met to discuss whether staff can begin the balloting process for the exposure draft of proposed amendments to IAS 1 and IFRS Practice Statement 2, Making Materiality Judgements. The Board tentatively decided to permit early application of the proposed amendments; and that they should be applied prospectively. The Board is satisfied that it has complied with the applicable due process requirements and that it has undertaken sufficient consultation and analysis to begin the balloting process for the exposure draft. The Board plans to issue an exposure draft of proposed amendments to IAS 1 and IFRS Practice Statement 2 in the second half of 2019.

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