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Accounting policies and accounting estimates

Date recorded:

Update and next steps (Agenda Paper 26)


The International Accounting Standard Board (Board) published the Exposure Draft Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8) (ED) in September 2017. For background on the ED and the proposed amendments, please see our IFRS in Focus on the ED.

Several respondents to the ED said the proposed amendments would improve clarity. However, they also suggested including illustrative examples and providing additional clarity in several areas. Some asked whether the benefits of finalising the proposed amendments would outweigh the costs of doing so.

Based on the comment letter feedback, the staff consulted with the Accounting Standards Advisory Forum (ASAF) in April 2018. As a next step, the staff will present the analysis of the feedback to the IFRS Interpretations Committee (Committee) and seek their advice on the next steps for this project. In particular, the staff will ask Committee members for their feedback on whether:

  • a) The benefits of finalising the amendments would justify the cost of standard-setting
  • b) Finalising the amendments could have any unintended consequences

The staff suggests to finalise any amendments from the ED together with those arising from Exposure Draft Accounting Policy Changes (Proposed amendments to IAS 8), which is currently open for comment

Staff recommendation

The staff did not recommend any particular decisions. They asked the Board whether it has any questions or comments on the next steps for the project.


There was no significant discussion in this session.


No decisions were made.

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