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Effective dates of pronouncements

Related Dates

Effective date of IFRS 17
01 Jan 2021
IFRS 17 'Insurance Contracts' was issued by the IASB on 18 May 2017 and is effective for periods beginning on or after 1 January 2021.
Effective date of new materiality definition
01 Jan 2020
On 31 October 2012, the IASB issued 'Definition of Material (Amendments to IAS 1 and IAS 8)' to clarify the definition of ‘material’ and to align the definition used in the Conceptual Framework and the standards themselves. The amendments are effective annual reporting periods beginning on or after 1 January 2020.
Effective date of updated references to the Conceptual Framework
01 Jan 2020
Together with the revised 'Conceptual Framework' published in March 2018, the IASB also issued 'Amendments to References to the Conceptual Framework in IFRS Standards'. The amendments are effective for annual periods beginning on or after 1 January 2020.
Effective date of IFRS 3 amendments
01 Jan 2020
On 22 October 2018, the IASB issued 'Definition of a Business (Amendments to IFRS 3)' aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The amendments are effective for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after 1 January 2020.
Effective date of amendments to IAS 28 (long-term interests)
01 Jan 2019
On 12 October 2017, the IASB published 'Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28)' to clarify that an entity applies IFRS 9 'Financial Instruments' to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied. The amendments are to be applied retrospectively for fiscal years beginning on or after 1 January 2019.
Effective date of IFRIC 23
01 Jan 2019
IFRIC 23 'Uncertainty over Income Tax Treatments' was issued by the IASB on 7 June 2017 and is effective for periods beginning on or after 1 January 2019, with earlier adoption permitted.
Effective date of amendments to IFRS 9 (prepayment features)
01 Jan 2019
On 12 October 2017, the IASB published 'Prepayment Features with Negative Compensation (Amendments to IFRS 9)' to address the concerns about how IFRS 9 'Financial Instruments' classifies particular prepayable financial assets. In addition, the IASB clarified an aspect of the accounting for financial liabilities following a modification. The amendments are to be applied retrospectively for fiscal years beginning on or after 1 January 2019.
Effective date of amendments to IAS 19 (plan amendments)
01 Jan 2019
On 7 February 2018, the IASB published 'Plan Amendment, Curtailment or Settlement (Amendments to IAS 19)' to harmonise accounting practices and to provide more relevant information for decision-making. An entity applies the amendments to plan amendments, curtailments or settlements occurring on or after the beginning of the first annual reporting period that begins on or after 1 January 2019.
Effective date of IFRS 16
01 Jan 2019
IFRS 16 'Leases' was issued by the IASB on 13 January 2016 and is effective for periods beginning on or after 1 January 2019, with earlier adoption permitted if IFRS 15 'Revenue from Contracts with Customers' has also been applied.
Effective date of 2015-2017 annual improvements cycle
01 Jan 2019
On December 12, 2017, the IASB issued 'Annual Improvements to IFRS Standards 2015–2017 Cycle,' which contains amendments to four International Financial Reporting Standards (IFRSs) as result of the IASB's annual improvements project. The amendments are all effective for annual periods beginning on or after 1 January 2019.
Effective date of IFRS 9
01 Jan 2018
IFRS 9 'Financial Instruments' was issued on 24 July 2014 and is effective for annual periods beginning on or after 1 January 2018.
Effective date of clarifications to IFRS 15
01 Jan 2018
'Clarifications to IFRS 15 'Revenue from Contracts with Customers'' was issued by the IASB on 12 April 2016 and applies to an entity's first annual IFRS financial statements for a period beginning on or after 1 January 2018.
Effective date of IFRS 9 deferral option
01 Jan 2018
On 12 September 2016, the IASB published 'Applying IFRS 9 'Financial Instruments' with IFRS 4 'Insurance Contracts'' providing two options for entities that issue insurance contracts within the scope of IFRS 4. An entity choosing to apply the IFRS 9 deferral approach does so for annual periods beginning on or after 1 January 2018.
Effective date of amendments to IFRS 2
01 Jan 2018
On 20 June 2016, the International Accounting Standards Board (IASB) published final amendments to IFRS 2 'Share-based Payment' that clarify the classification and measurement of share-based payment transactions. The amendments are effective for annual periods beginning on or after 1 January 2018, with earlier application permitted.
Effective date of IFRS 15
01 Jan 2018
IFRS 15 was issued by the IASB on 28 May 2014 and applies to an entity's first annual IFRS financial statements for a period beginning on or after 1 January 2018.
Effective date of amendments to IFRS 1 and IAS 28
01 Jan 2018
'Annual Improvements to IFRS Standards 2014–2016 Cycle' was issued on 8 December 2016. The amendments to IFRS 1 and IAS 28 are effective for annual periods beginning on or after 1 January 2018.
Effective date of IAS 40 amendments
01 Jan 2018
'Transfers of Investment Property (Amendments to IAS 40)' was issued on 8 December 2016. The amendments are effective for periods beginning on or after 1 January 2018. Earlier application is permitted.
Effective date of IFRIC 22
01 Jan 2018
IFRIC 22 'Foreign Currency Transactions and Advance Consideration' was issued on 8 December 2016. The standard is effective for annual reporting periods beginning on or after 1 January 2018. Earlier application is permitted.
Effective date of the 2016 disclosure initiative amendments to IAS 7
01 Jan 2017
'Disclosure Initiative (Amendments to IAS 7)' was issued on 29 January 2016. The amendments are effective for annual periods beginning on or after 1 January 2017. Earlier application is permitted.
Effective date of the 2016 amendments to IAS 12
01 Jan 2017
'Recognition of Deferred Tax Assets for Unrealised Losses' was issued on 19 January 2016. The amendments are effective for annual periods beginning on or after 1 January 2017. Earlier application is permitted.
Effective date of the 2015 amendments to the IFRS for SMEs
01 Jan 2017
'2015 Amendments to the IFRS for SMEs' was issued on 21 May 2015. Entities reporting using the 'IFRS for SMEs' are required to apply the amendments for annual periods beginning on or after 1 January 2017. Earlier application is permitted.
Effective date of amendments to IFRS 12
01 Jan 2017
'Annual Improvements to IFRS Standards 2014–2016 Cycle' was issued on 8 December 2016. The amendments to IFRS 12 are effective for annual periods beginning on or after 1 January 2017.
Effective date of 2012-2014 annual improvements
01 Jan 2016
'Annual Improvements to IFRSs 2012 2014 Cycle' was issued by the IASB on 25 September 2014 and is applicable to annual periods beginning on or after 1 January 2016, with earlier adoption permitted.
Effective date of IFRS 14
01 Jan 2016
IFRS 14 'Regulatory Deferral Accounts' was issued by the IASB on 30 January 2014 and is applies to an entity's first annual IFRS financial statements for a period beginning on or after 1 January 2016.
Effective date for IFRS 10, IFRS 12 and IAS 28 amendments
01 Jan 2016
'Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28)' was issued on 18 December 2014. The amendments address issues that have arisen in the context of applying the consolidation exception for investment entities. They are effective for annual periods beginning on or after 1 January 2016, with earlier application being permitted.
Effective date for IAS 1 amendments
01 Jan 2016
'Disclosure Initiative (Amendments to IAS 1)' was issued on 18 December 2014. The amendments aim at clarifying IAS 1 to address perceived impediments to preparers exercising their judgement in presenting their financial reports. They are effective for annual periods beginning on or after 1 January 2016, with earlier application being permitted.
Effective date of amendments to IAS 27
01 Jan 2016
'Equity Method in Separate Financial Statements (Amendments to IAS 27)' was issued on 12 August 2014. The amendments are effective for annual periods beginning on or after 1 January 2016, with earlier application being permitted.
Effective date of amendments to IAS 16 and IAS 41
01 Jan 2016
'Agriculture: Bearer Plants (Amendments to IAS 16 and IAS 41)' was issued on 30 June 2014. The amendments are applicable to annual periods beginning on or after 1 January 2016.
Effective date of amendments to IAS 16 and IAS 38
01 Jan 2016
'Clarification of Acceptable Methods of Depreciation and Amortisation (Amendments to IAS 16 and IAS 38)' was issued on 12 May 2014 and is effective for annual periods beginning on or after 1 January 2016.
Effective date of IFRS 11 amendments
01 Jan 2016
'Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11)' was issued on 6 May 2014 and is effective for annual periods beginning on or after 1 January 2016.
Effective date of IFRS 7 amendments on application of IFRS 9
01 Jan 2015
'Mandatory Effective Date and Transition Disclosures (Amendments to IFRS 9 and IFRS 7)' amends the effective date of IFRS 9 to annual periods beginning on or after 1 January 2015, and modifies the relief from restating comparative periods and the associated disclosures in IFRS 7.
Effective date of IAS 19 amendments
01 Jul 2014
'Defined Benefit Plans: Employee Contributions (Amendments to IAS 19)' was issued on 21 November 2013 and is effective for annual periods beginning on or after 1 July 2014.
Effective date of 2011-2013 annual improvements
01 Jul 2014
'Annual Improvements 2011–2013 Cycle' was issued by the IASB on 12 December 2013 and is applicable to annual periods beginning on or after 1 July 2014, with earlier adoption permitted.
Effective date of 2010-2012 annual improvements
01 Jul 2014
Annual Improvements 2010–2012 Cycle was issued by the IASB on 12 December 2013 and is applicable to annual periods beginning on or after 1 July 2014, with earlier adoption permitted.
Effective date of IAS 32 offsetting amendments
01 Jan 2014
'Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32)' was issued on 16 December 2011 and is effective for annual periods beginning on or after 1 January 2014.
Effective date of investment entities amendments
01 Jan 2014
'Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)' was issued on 31 October 2012 and applies to annual periods beginning on or after 1 January 2014.
Effective date of IFRIC 21
01 Jan 2014
IFRIC 21 'Levies' was issued on 20 March 2013 and is effective for annual periods beginning on or after 1 January 2014.
Effective date of IAS 36 amendments
01 Jan 2014
'Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36)' was issued on 29 May 2013 and is effective for annual periods beginning on or after 1 January 2014.
Effective date of amendments to IAS 39
01 Jan 2014
The amendments to IAS 39 are effective for annual periods beginning on or after 1 January 2014.
Effective date of IFRS 7 offsetting amendments
01 Jan 2013
'Disclosures — Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7)' is effective for annual periods beginning on or after 1 January 2013 and interim periods within those annual periods.
Effective date of IFRS 13
01 Jan 2013
IFRS 13 'Fair Value Measurements' applies when another IFRS requires or permits fair value measurements or disclosures about fair value measurements (and measurements, such as fair value less costs to sell, based on fair value or disclosures about those measurements)
Effective date of IFRS 12
01 Jan 2013
IFRS 12 'Disclosure of Involvement with Other Entities' is applicable to annual reporting periods beginning on or after 1 January 2013.
Effective date of IFRS 11
01 Jan 2013
IFRS 11 'Joint Arrangements' is applicable to annual reporting periods beginning on or after 1 January 2013.
Effective date of IFRS 10/11/12 amendments
01 Jan 2013
The IASB issued 'Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance' on 28 June 2012. The amendments are applicable to annual periods beginning on or after 1 January 2013.
Effective date of IFRS 10
01 Jan 2013
IFRS 10 'Consolidated Financial Statements' is applicable to annual reporting periods beginning on or after 1 January 2013.
Effective date of IFRS 1 government loans amendment
01 Jan 2013
The IASB issued Government Loans (Amendments to IFRS 1) on 13 March 2012. The amendments to IFRS 1 are effective for annual periods beginning on or after 1 January 2013. Earlier application is permitted.
Effective date of IFRIC 20
01 Jan 2013
IFRIC 20 'Stripping Costs in the Production Phase of a Surface Mine' was issued on 19 October 2011 and is effective for annual periods beginning on or after 1 January 2013.
Effective date of amended IAS 19
01 Jan 2013
IAS 19 'Employee Benefits' applies to annual periods beginning on or after 1 January 2013.
Effective date of 2009-2011 annual improvements
01 Jan 2013
'Annual Improvements 2009–2011 Cycle' was issued by the IASB on 17 May 2012 and is applicable to annual periods beginning on or after 1 January 2013.
Effective date of IAS 1 OCI amendments
01 Jul 2012
'Presentation of Items of Other Comprehensive Income (Amendments to IAS 1)' was issued on 16 June 2011 and is applicable to annual periods beginning on or after 1 July 2012.
Effective date of IAS 12 amendments
01 Jan 2012
'Deferred Tax: Recovery of Underlying Assets (Amendments to IAS 12)' provides a practical solution to the application of the requirements of IAS 12 to investment property under IAS 40 'Investment Property'. The amendment is applicable to annual periods beginning on or after 1 January 2012.

Correction list for hyphenation

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