Communiqué and report from the May 2017 Emerging Economies Group meeting

  • EEG meeting (mid blue) Image

02 Jun 2017

The 13th meeting of the IASB's Emerging Economies Group (EEG) was held in Mumbai on 8-9 May 2017. For the first time ever, the IASB has published a full report from the meeting in addition to the usual communiqué.

Participants at the meeting, which was the first led by IASB member Amaro Gomes, discussed the implementation of and questions around IFRS 15 Revenue from Contracts with Customers. The report from the meeting includes three pages on the implementation timeline, the five-step revenue recognition model including specific questions around identifying the contract with the customer (step 1) and determining the transaction price (step 3), principal versus agent aspects, and the conceptual approach to IFRS 15. As participants felt it would be especially beneficial for other emerging economies to be able to read up on the discussion, it was decided to publish the detailed report.

Please click for access to the communiqué (one page) and the full report (five pages) on the IASB website.

The next meeting of the EEG will be held 4-5 December 2017 in São Paulo, Brazil.

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