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IAS 8 — Accounting policy changes


This project looks into the accounting for voluntary changes in accounting policies — in particular, changes in accounting policies that result from agenda decisions published by the IFRS Interpretations Committee.

Applying IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, an entity changes an accounting policy only if the change is required by an IFRS or results in improving the usefulness of information provided to users of its financial statements. However, a common reason why an entity voluntarily changes an accounting policy is to reflect non-authoritative explanatory material included in agenda decisions published by the IFRS Interpretations Committee.

To facilitate voluntary changes in accounting policy that result from an agenda decision, the Board intends to amend IAS 8 to lower the impracticability threshold for retrospective application of such changes.


Current status of the project

The IASB first discussed this issue in June 2017. An exposure was published on 27 March 2018 with comments requested by 27 July 2018.


Project milestones

Date Development Comments
June 2017 Issue first discussed by the IASB
27 March 2018 ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8) published Comment letter deadline: 27 July 2018

Correction list for hyphenation

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