During the meeting, the IASB explained its reasons for suggesting a shortened comment period:

• IASB added the project on power purchase agreements as an urgent project in July 2023, following requests from stakeholders for a timely solution of the issue. Following the development of a possible solution by the staff, the IASB then discussed the issue at all meetings from December 2023 to March 2024.
• To achieve its objective of providing a timely solution as asked for by stakeholders, the IASB expects to publish an exposure draft in May 2024 and is currently aiming to finalise the amendments in 2024.
• Throughout the project, the IASB did extensive outreach with stakeholders - "shared the sandbox" with them - so stakeholders know what is coming and will only need to comment on technical details.
• The IASB has clearly communicated on the status of the project and the progress made throughout the project.
• The proposed changes are narrow-scope amendments affecting particular requirements in IFRS 9 only.
• Implementing the proposed amendments would not be burdensome for preparers.

The DPOC followed the reasoning of the IASB and only asked a few clarifying questions. It finally agreed to a shortened comment period of 90 days.

Please click for the following additional information on the IFRS Foundation website:  

• Agenda paper for the meeting explaining the IASB's rationale
• Recording of the DPOC meeting