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IASB begins public consultation phase of the IFRS 8 post-implementation review

  • IASB (International Accounting Standards Board) Image

Jul 19, 2012

The IASB has initiated the public consultation phase of IFRS 8, "Operating Segments," post-implementation review (PIR) process. As part of the public consultation phase, the IASB has published for comment a Request for Information (RFI) on the effect of implementing the standard.

The purpose of the review is to gather "feedback on whether the standard is functioning as intended, as well as more practical information on the challenges and costs associated with implementing the standard." In addition to the RFI, the IASB will be holding outreach activities internationally to gather more feedback on the effect of implementing IFRS 8.

The IFRS 8 standard marks the first time the IASB has conducted a PIR of a major standard since PIR was introduced by the Trustees in 2007.

Comments on the RFI are due by November 16, 2012.

A live web presentation on the RFI will be available on July 26, 2012, by the IASB staff. Presentation details are available on the IASB's Web site.

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