IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
IFRS IC agenda decision on whether a software reseller is an agent or principal under IFRS 15
In April 2022, the IFRS Interpretations Committee (IFRS IC) reached a final decision, ratified by the IASB in May.
Sixth compilation of IFRS IC agenda decisions published
On 5 May 2022, the IFRS Foundation published the sixth compilation of IFRS Interpretations Committee (IFRS IC) agenda decisions, published between November 2021 and April 2022.
Redeliberations continue on Primary Financial Statements project
At its May 2022 meeting, the IASB (International Accounting Standards Board) continued its redeliberations on the proposals in the December 2019 General Presentation and Disclosures exposure draft, in the wake of comments received from stakeholders.
Hyperinflation in Turkey: IAS 29 on the agenda again
Preparers with significant exposure to Turkey will need to apply IAS 29 when drawing up their interim financial statements for 2022, after the country was classified as a hyperinflationary economy under IFRSs from 1 April 2022. On 16 March, the International Practices Task Force (IPTF) of the Center for Audit Quality (CAQ), which is the standard reference for identifying hyperinflationary economies, published a document for discussion adding Turkey to the list.
Updates to IASB work plan for 2022-2026
At its April meeting, the IASB continued its redeliberations on its work plan for 2022 to 2026, following the third public agenda consultation.