EFRAG final comment letter on the IASB's Exposure Draft amending the effective date of IFRS 15
03 Jul, 2015
The European Financial Reporting Advisory Group (EFRAG) has published its 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 final comment letter, EFRAG supports the proposal.
The press release and full comment letter are available on the EFRAG website.
