Final Amendment – Effective Date of IFRS 15

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The IASB has issued a narrow-scope amendment to IFRS 15 Revenue from Contracts with Customersdeferring the effective date of this standard by one year to annual reporting periods beginning on or after January 1, 2018 with earlier application permitted; as reported by The Standard.


IASB confirms deferral of effective date by issuing formal amendment to the revenue Standard as reported on their September press release.


It goes on to say: The International Accounting Standards Board (IASB) today issued an amendment to the revenue Standard, IFRS 15 Revenue from Contracts with Customers, formalising the deferral of the effective date by one year to 2018.


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