Provisions - International Accounting Standards Board
Date recorded:
At its meeting on April 25-27, 2023, the IASB met to discuss its project to make improvements to IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The IASB discussed possible amendments to the requirements and guidance supporting one criterion for recognizing a provision—the criterion that an entity has a present obligation as a result of a past event. The IASB was not asked to make any decision. The IASB will consult stakeholders on the possible amendments.
Review the IASB Update and podcast on the Board's Web site.