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Disclosure Initiative – Accounting Policies – International Accounting Standards Board

Date recorded:

At its meeting on December 14-16, 2020, the IASB met to discuss sweep issues arising from the balloting process. The Board tentatively decided not to add transition requirements and an effective date to the amendments to IFRS Practice Statement 2. The Board tentatively decided that paragraph 117B of IAS 1 should state that accounting policy information is expected to meet the definition of material if the accounting policy information is needed to understand other material information in the financial statements. The Board continues to expect to issue the final amendments in the first quarter of 2021.

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

Correction list for hyphenation

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