ICAI invites Comments on Request of IASB for Information on Post-Implementation Review of IFRS 15

ICAI invites - Comments - Request of IASB for Information - Post-Implementation Review - IFRS 15 - Taxscan

The Institute of Chartered Accountants of India  (ICAI) has invited comments on request of the International Accounting Standards Board (IASB) for Information on the Post-Implementation Review  of IFRS 15.

The IASB requested to undertake a post-implementation review of IFRS 15, Revenue from Contracts with Customers. Accordingly, the IASB has issued the following Request for information for public comments:

“A Post-implementation Review is an opportunity for the IASB to assess whether the effects of applying the new requirements on users of financial statements, preparers, auditors and regulators are as intended when the IASB developed those new requirements. Accordingly, IASB has issued the Post-implementation Review of IFRS 15 to assess whether the standard is working as intended.

With the view to contribute to standard setting at international level, the above-mentioned Request for Information issued by the IASB has been hosted on the website of the Institute of Chartered Accountants of India (www.icai.org) for public comments with last date as August 31, 2023. The downloadable version is available at: https://resource.cdn.icai.org/75209asb60761.pdf”

The Comments on the request for information may be submitted through any of the following modes:

1. Electronically: Click on http://www.icai.org/comments/asb/ to submit comment online (Preferred method)

2. Email: commentsasb@icai.in

3. Postal : Secretary, Accounting Standards Board,

                 The Institute of Chartered Accountants of India,

                  ICAI Bhawan, Post Box No. 7100,

                  Indraprastha Marg, New Delhi 110 002

The stakeholders may send their suggestions/objections in regard to the aforesaid request.

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