IFRS update – July 2022
This series of publications sets out the current standards, amendments and interpretations in issue by the International Accounting Standards Board, effective now and beyond.
The publications include:
- Overviews of the new and amended standards and interpretations in issue
- Summaries of the requirements of each new and amended standard
- Details on post-implementation review (PIRs)
- Summaries of other useful publications for IFRS reporters
What’s new for this month
- EU endorsement of:
- IFRS 17 Insurance Contracts and Amendments to IFRS 17 Insurance Contracts
- IAS 1 Presentation of Financial Statements: Disclosure of Accounting Policies
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates
- UK adoption of:
- IFRS 17 Insurance Contracts and Amendments to IFRS 17 Insurance Contracts
- Annual Improvements to IFRS 2018 - 2020
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets: Onerous Contracts: Cost of Fulfilling a Contract (Amendments to IAS 37)
- IAS 16 Property, Plant and Equipment: Property, Plant and Equipment: Proceeds before Intended Use
- IFRS 3 Business Combinations: Reference to the Conceptual Framework
