Newsletter on recent revisions to IFRS 1
08 Dec 2008
Deloitte's IFRS Global Office has published a special edition of our IAS Plus Update Newsletter 'Revisions to IFRS 1 on First-time Adoption of IFRSs'.
Frequent amendments to IFRS 1 since its original release in 2003 had made the standard more complex and less clear. The new version of IFRS 1 just issued retains the substance of the previous version, but within a changed structure. It replaces the previous version and is effective for entities applying IFRSs for the first time for annual periods beginning on or after 1 January 2009. Earlier application is permitted.
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