Provisions—Targeted Improvements – International Accounting Standards Board
Date recorded:
The IASB met on November 15, 2023, to discuss possible amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
The IASB tentatively decided to propose amendments to IAS 37 to specify the basis on which an entity calculates the discount rate it uses when measuring a provision; and to specify that an entity uses a rate that reflects the time value of money—represented by a risk-free rate—with no adjustment for non-performance risk.
Review the IASB Update and podcast on the Board's Web site.