IASB proposes amendments to guidance on operating segments
Mar 29, 2017
The IASB has published for public comment an exposure draft (ED) that would amend the guidance in IFRS 8, “Operating Segments.”
The amendments would:
- “[C]larify and emphasise the criteria that must be met before two operating segments may be aggregated.”
- “[R]equire companies to disclose the title and role of the person or group that performs the function of the chief operating decision maker.”
- “[R]equire companies to provide information in the notes to the financial statements if segments in the financial statements differ from segments reported elsewhere in the annual report and in accompanying materials.”
The ED would also amend the guidance in IAS 34 on interim financial reporting to “require companies that change their segments to provide restated segment information for prior interim periods earlier than they currently do.”
Comments on the ED are due by July 31, 2017. For more information, see the press release and ED on the IASB’s Web site.
