UKEB publishes its draft comment letter on the IASB’s Request for Information regarding the Post implementation Review of IFRS 15
28 Jul, 2023
The UK Endorsement Board (UKEB) has published its draft comment letter in response to the International Accounting Standards Board's (IASB's) Request for Information on its Post-implementation Review of IFRS 15 'Revenue from Contracts with Customers'.
The UKEB welcomes the opportunity to provide comments on the IASB’s Request for Information.
The draft comment letter considers that IFRS 15 has achieved its objective and is working well, though some operational challenges remain. It also highlights some areas where improvement, including potential standard setting activity, is required, without causing significant cost and disruption to entities already applying the standard.
Comments on the draft comment letter are requested by 5 October 2023.
In addition, the UKEB is to hold roundtables for preparers to understand UK preparers' views on the implementation of IFRS 15. It will also be conducting short one-to-one interviews to understand UK investor /user views on company reporting of their revenue.
The press release, the draft comment letter and the invitation to comment are available on the UKEB website.
