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In depth – New IFRSs for 2020 [electronic only]

Since March 2019, the IASB has issued the following:

  • Amendments to IFRS 9, IAS 39, ‘Financial instruments’ and IFRS 7, ‘Financial instruments disclosure’, Interest rate benchmark reform
  • Amendments to IAS 1,‘Presentation of financial statements’, Classification of liabilities. This guide summarises these amendments plus those standards, amendments and IFRICs issued previously that are effective from 1 January 2020.

It is designed to be used by preparers, users and auditors of IFRS financial statements. It includes a quick reference table of each standard/amendment/interpretation categorised by the effective date, whether early adoption is permitted and the EU endorsement status as of 1 February 2020. The publication gives an overview of the impact of the changes, which may be significant for some entities, helping companies understand if they will be affected and to begin their considerations. It will help entities plan more effectively by flagging up where new processes and systems or more guidance may be needed.

To download this for free, visit PwC's Inform.

 

Published date: April 2020

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