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Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12

Date recorded:

Project Update (Agenda Paper 7)

According to the Due Process Handbook, the IASB is required to conduct a post-implementation review (PIR) of each new Standard. The project on the PIR of IFRS 10, IFRS 11 and IFRS 12 has now become active.

This paper reminds the Board of the purpose of a PIR and informs the Board of the main activities planned for the first phase of the PIR, which involves an initial identification and assessment of the matters to be examined, which are then subject of a public consultation in the form of a ‘Request for Information’ (RFI).

The Board will not be asked to make any decisions at this meeting.

Board discussion

A Board member asked if the RFI already scopes the issues to be discussed or if the scoping would happen at a later stage. The staff confirmed that the RFI would be broad and issues beyond the ones focused by the Board could be raised as a response to the RFI.

No decisions were made.

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