This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB concludes two projects by publishing project summaries

  • IFRS - IASB Image

Feb 28, 2019

On February 28, 2019, the International Accounting Standards Board (the Board) published "Improvements to IFRS 8 "Operating Segments" — Proposed amendments to IFRS 8 and IAS 34 project summary" and "Discount rates in IFRS Standards project summary". The Board will not conduct any further work regarding these projects.

In 2012, the Board started a post-implementation review of IFRS 8 Operating Segments and subsequently published a report and feedback statement summarizing the findings of the review. In March 2017, the Board proposed to address the findings from the review in the exposure draft ED/2017/2 Improvements to IFRS 8 "Operating Segments" (Proposed amendments to IFRS 8 and IAS 34). However, feedback to the ED revealed that some of the Board's proposals could be dealt with by existing requirements, that other proposals would not be effective in addressing the findings from the review, and that the remaining proposals would not result in sufficient improvements in information to investors to justify the additional costs. Therefore, the Board decided not to proceed with the amendments proposed in the ED. Thus, the project summary published today concludes the project.

The project on discount rates resulted from feedback in the Agenda consultation 2011 where constituents had commented that the reasons for differences in discount rate requirements under various IFRS® Standards is not well understood and could be considered inconsistent. Therefore, the Board conducted a research project from 2014 to 2017 to investigate reasons for inconsistencies between requirements relating to discount rates in IFRS Standards and to assess whether the Board should consider addressing those inconsistencies. The Board’s investigation found that, in some cases, inconsistencies arise between requirements relating to discount rates in IFRS Standards because different standards adopt different measurement bases. There are also some inconsistencies because different standards were developed at different times and with different areas of focus. The Board will use those findings in other projects but has no plans to conduct a separate project on discount rates. This project is, therefore, also concluded by publishing a project summary.

Review the following information on the Board's website:

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.