The Accounting Standards Board (AcSB) participated in the International Accounting Standards Board’s (IASB) post-implementation review of IFRS 15 Revenue from Contracts with Customers to provide input on this standard’s effectiveness.
In undertaking the review, the IASB:
- considered important or contentious issues in the development of the IFRS Accounting Standard;
- considered issues that have come to the IASB’s attention since publication; and
- identified areas in which unexpected costs or implementation problems were encountered.
The AcSB participated in the consultations and activities on this project to ensure that Canadian entities’ financial reporting needs were considered by the IASB.