Annual improvements — Volume 11
Background
The IASB's annual improvements project provides a streamlined process for dealing efficiently with a collection of amendments to IFRSs. The primary objective of the process is to enhance the quality of standards, by amending existing IFRSs to clarify guidance and wording, or to correct for relatively minor unintended consequences, conflicts or oversights. Amendments are made through the annual improvements process when the amendment is considered non-urgent but necessary.
This page tracks developments in the annual improvements process for the 11 volume of amendments. The issues covered in this cycle were first discussed by the IFRS Interpretations Committee in November 2022. The Board first discussed the issues in February 2023. An exposure draft of proposed amendments is expected in September 2023.
Current status of the project
The Board first discussed the issues in February 2023. An exposure draft of proposed amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10, and IAS 7 was published on 12 September 2023 with comments requested by 11 December 2023.
Project milestones
| Date | Development | Comments |
|---|---|---|
| November 2022 | First issues discussed by the IFRS Interpretations Committee | |
| February 2023 | First issues discussed by the IASB | |
| 12 September 2023 | IASB/AI/ED/2023/1 Annual Improvements to IFRS Accounting Standards — Volume 11 published | Comments requested by 11 December 2023 |
