EFRAG draft comment letter on the IASB's Exposure Draft amending the effective date of IFRS 15
20 May, 2015
The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft (ED) proposing deferral of the effective date of IFRS 15 Revenue from Contracts with Customers by one year.
The IASB issued ED/2015/2 Effective Date of IFRS 15 (proposed amendments to IFRS 15) on 19 May 2015. This exposure draft only proposes changing the mandatory effective date of IFRS 15 from annual periods beginning on or after 1 January 2017 to annual periods beginning on or after 1 January 2018. Earlier application of IFRS 15 would continue to be permitted.
In its draft comment letter, EFRAG supports the proposal. It requests comments on its draft comment letter by 25 June 2015.
For more information, see the press release and draft comment letter on the EFRAG’s website.
