• ASC issues Annual Improvements to SFRS(I)s and FRSs, together with various narrow-scope amendments to SFRS(I)s and FRSs.
  • ASC defers effective date of Classification of Liabilities as Current or Non-current (Amendments to SFRS(I) 1-1 and FRS 1) to 1 January 2023.
  • IASB amends IFRS 17 Insurance Contracts and defers effective date to 1 January 2023.
  • ASC amends SFRS(I) 16 and FRS 116 on Covid-19-Related Rent Concessions.
  • IASB published educational materials on application of IFRS 9 and IFRS 16 to questions arising from Covid-19 situation.

Latest News 

Consultations 

  • 23 Mar 2020 DP/2020/1 Business Combinations—Disclosures, Goodwill and Impairment, comments by 30 September 2020 [extended]
  • 3 Feb 2020 - Request for Information: Comprehensive Review of the IFRS for SMEs Standard, comments by 21 August 2020 [extended]
  • 18 Dec 2019 ED/2019/7 General Presentation and Disclosures, comments by 27 July 2020 [extended]

Submissions

  • 29 May 2020 - ASC's comment letter on ED/2020/3 Classification of Liabilities as Current or Non-current—Deferral of Effective Date (Proposed amendment to IAS 1)
  • 22 May 2020 - ASC's comment letter on ED/2020/1 Interest Rate Benchmark Reform—Phase 2 (Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)
  • 8 May 2020 - ASC's comment letter on ED/2020/2 Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16)