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.
IASB work plan updated in 2021
Following the meeting of the International Accounting Standards Board (IASB) on 20 and 21 July 2021, the IASB has updated its work plan.
Amendment to IFRS 17 on a classification overlay
Following preliminary discussions in May, the IASB decided in June to propose a narrow-scope amendment to IFRS 17 in order to facilitate initial application of IFRS 17 and IFRS 9 by insurance entities.
IASB decides management performance measures
Following the first redeliberations on the Primary Financial Statements project in March 2021, the International Accounting Standards Board (IASB) has, as expected, gone on to discuss potentially expanding the scope of its requirements for management performance measures (MPMs). The 2019 exposure draft specified that certain minimum disclosures on MPMs would be required, to be presented in a single note to the financial statements.
IASB update – July 2021
At the end of June, Hans Hoogervorst, Chair of the International Accounting Standards Board (IASB), has stepped down after a 10-year tenure. Andreas Barckow, who has previously served on several IFRS Foundation advisory bodies, has taken over for a first mandate as head of the IASB as of 1 July.
Draft to replace IFRS Practice Statement 1
On 27 May 2021, the IASB published an exposure draft that is intended to replace IFRS Practice Statement 1 – Management Commentary, published in December 2010.