IFRS Taxonomy Update: Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17) [Completed]

Effective date:

The IFRS Accounting Taxonomy 2022, issued by the IASB on March 24, 2022, includes the changes to the IFRS Accounting Taxonomy relating to this project.

Last up­dated:

March 2022

Overview

On December 16, 2021, the IFRS Foundation issued a proposed IFRS Taxonomy Update, "IFRS Taxonomy 2021 Proposed Update 3 — Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)”.

The proposed changes reflect those made by the amendments to IFRS 17 re  Initial Application of IFRS 17 and IFRS 9—Comparative Information, issued on December 9, 2021.

The dead­line for sub­mit­ting com­ments is Jan­u­ary 17, 2022.

The updates to the IFRS Accounting Taxonomy related to this project were approved and included in the IFRS Accounting Taxonomy 2022, which was issued by the IASB on March 24, 2022.

Other De­vel­op­ments

December 2021

On December 16, 2021, the IFRS Foundation issued a proposed IFRS Taxonomy Update, "IFRS Taxonomy 2021 Proposed Update 3 — Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)".

The updates to the IFRS Accounting Taxonomy related to this project were approved and included in the IFRS Accounting Taxonomy 2022, which was issued by the IASB on March 24, 2022.

Related Discussions

At its meeting on January 25, 2022, the IASB met to receive an update on the feedback on the proposed IFRS Taxonomy Update. The IASB was also updated on the next steps to be taken in finalizing the IFRS Taxonomy Update. The IASB was not asked to make any decisions. The IASB will begin the balloting process and expects to issue the IFRS Taxonomy Update in March 2022.

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.