Classification of Liabilities – International Accounting Standards Board
Date recorded:
At its meeting on June 22-23, 2021, the IASB discussed the IFRIC’s technical analysis and conclusions relating to the implementation of the 2020 amendments to IAS 1. The Board tentatively decided that it would be necessary to make further amendments to IAS 1 prior to implementing the 2020 amendments in order to address certain fact patterns, and accordingly tentatively to defer the effective date of the 2020 amendments to no earlier than January 1, 2024. At a future meeting the Board will discuss the transition requirements for the proposed amendments, as well as the Board’s compliance with applicable due process steps.
