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We comment on the IASB's proposal to defer the amendments to IAS 1

  • Deloitte document (mid gray) Image

03 Jun 2020

We have responded to the IASB’s exposure draft ED/2020/3 'Classification of Liabilities as Current or Non-Current – Deferral of Effective Date'.

We support the deferral of the effective date for recent amendments to IAS 1 and believe that it is important that entities have sufficient time to analyse the potential effect of the amendments on the classification of their liabilities and, if necessary, renegotiate their debt covenants. In addition, we have observed some diversity in views on how to apply the recent amendments and suggest the Board consider additional guidance on how the recent amendments should be applied.

Please download the full comment letter here.

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