IASB is proposing to withdraw IAS 15

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07 Dec 2001

At its upcoming meeting, IASB will discuss withdrawing IAS 15, Information Reflecting the Effects of Changing Prices.

IAS 15 (1981) had required enterprises to present supplementary information on one of two bases: (1) adjusted for changes in the general price level or (2) balance sheet items measured at replacement cost. In 1989, the IASC had made the Standard optional, and companies stopped providing the information. Meanwhile, subsequent Standards, including IAS 16, 39, 40, and 41, have addressed reporting the effects of changing prices for individual classes of assets.

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