Deferral of IFRS 15 Effective Date
On 19 May 2015, the IASB published an exposure draft which proposes deferring the effective date of the new revenue recognition standard.
Keywords: Mazars, Thailand, IFRS, IASB, IFRS 15, EFRAG
22 July 2015
If stakeholders are in agreement with the IASB’s proposal, the effective date of IFRS 15 will be deferred by one year, and will thus be applicable for financial periods commencing on or after 1 January 2018. Early application would still be permitted. The comment period is open until 3 July 2015.
EFRAG has already published its draft comment letter as part of its own due process, and supports the IASB’s proposal.