As expected, following the FASB decision to defer the mandatory effective date of Topic 606, the IASB has now followed in its wake. An exposure draft will shortly be published proposing to defer the effective date of IFRS 15 to 1 January 2018. These decisions are a consequence of the work conducted in the TRG on the implementation difficulties of these twin standards, which will result in the upcoming publication of proposed amendments.
More information about Mazars Czech Republic´s IFRS Desk is available at Mazars IFRS Desk. The newsletter is also available online in English at The “Beyond the GAAP“ newsletter.
Please feel free to contact our IFRS Desk team to discuss any issues or points regarding IFRS that might arise in the context of your business.
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