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IASB aligns with FASB and tentatively decides to defer effective date of new revenue standard

  • IASB (International Accounting Standards Board) Image

Apr 28, 2015

The IASB tentatively decided today to defer the effective date of IFRS 15, “Revenue From Contracts With Customers,” to January 1, 2018. This decision aligns IFRS 15’s effective date with that of the FASB’s counterpart standard, ASU 2014-09, which the FASB decided to defer by one year at its April 1, 2015, meeting.

The IASB staff will prepare a stand-alone exposure draft on the deferral. The exposure draft will have a comment period of 30 days and is expected to be issued in May 2015.

For more information, see Deloitte's IFRS in Focus newsletter as well as the press release on the IASB's Web site.

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