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IFRS Foundation issues statement on its work during the COVID-19 pandemic

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27 Mar 2020

The IFRS Foundation has issued a statement, ‘The coronavirus and the Foundation’s work,’ which acknowledges that this is a difficult time for stakeholders and provides information on what work they are doing to support their stakeholders.

In particular, the statement notes that its projects on IBOR reform and amendments to IFRS 17 are still on schedule; however, timelines will be discussed on specific projects during its April meeting. In addition, the publication of several narrow-scope amendments to IFRS Standards have been postpone to May 2020 (see our updated IASB work plan analysis).

The IFRS Foundation has also issued educational materials to support the application of IFRS 9 during the economic uncertainity arising from the coronavirus pandemic and has shifted to virtual meetings.

For more information, see the statement on the IASB’s website.

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