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.
Exposure draft on IFRS 17 amendments
On 26 June 2019, the IASB published an exposure draft (ED/2019/4 Amendments to IFRS 17) proposing amendments to the insurance contracts standard.
IFRS applicable at 30 June 2019
To coincide with the preparation of interim financial reports, we present an overview of the IASB’s most recent publications. For each text, we clarify whether it is mandatory for this closing of accounts, or whether early application is permitted, based on the EU endorsement status report (position at 28 March 2019).
Draft narrow-scope amendments to IFRS 3
On 30 May, the IASB published an ED proposing limited amendments to IFRS 3 – Business combinations. The main aim of these amendments is to update the reference to the Conceptual Framework, referring to the 2018 text rather than the earlier 1989 version.
Improvements to IFRSs – 2018-2020 Cycle
On 21 May 2019, the IASB published its draft Improvements to IFRSs – 2018-2020 cycle (ED/2019/2). The amendments proposed by the IASB relate to the following standards and topics.
Application of the ‘highly probable’ criterion
IFRS 9 (and IAS 39) permit forecast transactions to be designated as hedged items on condition that they are deemed to be ‘highly probable’.