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
- IFRS Taxonomy Proposed Update: Initial Application of IFRS 17 and IFRS 9 – International Accounting Standards Board
- Jan 25, 2022
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.