Narrow scope amendments
| Title | Description |
|---|---|
| Annual improvements — Volume 11 | The IASB's annual improvements process was established for dealing efficiently with a collection of amendments to IFRSs. The primary objective of the process is to enhance the quality of standards, by amending existing IFRSs to clarify guidance and wording, or to correct for relatively minor unintended consequences, conflicts or oversights. Volume 11 of the annual improvements affects IFRS 1, IFRS 7, IFRS 9, IFRS 10, and IAS 7. An exposure draft of proposed amendments was published on 12 September 2023 with comments requested by 11 December 2023. |
| Classification and measurement of financial instruments | In 2022, the IASB concluded its post-implementation review of the classification and measurement requirements of IFRS 9 'Financial Instruments'. In general, the IASB found that preparers can apply the requirements consistently. However, the IASB identified some requirements that would benefit from clarification to improve their understandability. An exposure draft of proposed amendments to IFRS 9 and IFRS 7 was published on 21 March 2023 with comments requested by 19 July 2023. |
| IAS 19/IFRIC 14 — Remeasurement at a plan amendment, curtailment or settlement / Availability of a refund of a surplus from a defined benefit plan | A narrow scope project to clarify (a) the calculation of current service cost and net interest an when entity remeasures the net defined benefit liability (asset) when a plan amendment, curtailment or settlement occurs; and (b) whether a trustee's power to augment benefits or to wind up a plan affects the employer's unconditional right to a refund and thus, in accordance with IFRIC 14, restricts recognition of an asset. An exposure draft was published on 18 June 2015 with comment letter deadline 19 October 2015. Amendments to IAS 19 regarding (a) were issued on 7 February 2018. Amendments regarding (b) are still outstanding. |