First Time Application of IAS

Date recorded:

The Board formally added this project to its technical agenda as a first priority project, after having consulted with the Standards Advisory Council. The project will include a review of SIC 8. IASB staff made a presentation highlighting the key issues and a proposed approach for the project. Click here for a Summary of the Key Issues. In approving the project, the Board indicated that the issues raised are significant and need to be addressed urgently. The staff expects to present a paper at the September Board meeting as well as the October SAC meeting.

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