At its meeting on December 11-12, 2019, the IASB met to discuss implementation matters. The Board tentatively decided that entities should apply the amendments for annual periods beginning on or after January 1, 2022, with earlier application permitted. With respect to due process, the Board agreed that the amendments meet the criteria for inclusion in the annual improvements process and do not require re-exposure and that they were satisfied the Board has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the balloting process for the amendments. No Board members indicated they intend to dissent from the issuance of the amendments. The Board plans to issue the amendments in the second quarter of 2020.

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