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.
Redeliberations continue on Primary Financial Statements project
At its first meeting of the year, the IASB continued its redeliberations on the General Presentation and Disclosures exposure draft. Redeliberations on the project have now been ongoing for a full year, following an Exposure Draft (ED) published in December 2019.
IASB work plan: key milestones
Following the meeting of the International Accounting Standards Board (IASB) on 25 January 2022, the IASB has updated its work plan (which it does on a regular basis).
Economic benefits from use of a windfarm: IFRS IC agenda decision
The IFRS Interpretations Committee (IFRS IC) received a request as to whether, applying paragraph B9(a) of IFRS 16, an electricity retailer (customer) has the right to obtain substantially all of the economic benefits arising from use of a windfarm throughout the entire term of an agreement with a windfarm generator (supplier).
IFRS 17 to provide insurers with IFRS 9
When first applying IFRS 17 – Insurance Contracts, for financial periods commencing on or after 1 January 2023, insurance entities are required to present one year of comparative information (for the 2022 transition period).
ISSB Chair appointed
On 16 December, the Trustees of the IFRS Foundation announced the appointment of Emmanuel Faber as the first Chair of the newly-created International Sustainability Standards Board (ISSB). Mr Faber has been appointed for an initial term of three years.