06/03/2020 | News release | Distributed by Public on 06/03/2020 03:28
On 4 May 2020 the IASB issued the Exposure Draft ED/2020/3 Classification of Liabilities as Current or Non-current - Deferral of Effective Date (proposed amendments to IAS 1) (the 'ED'), which proposes to amend IAS 1 Presentation of Financial Statements. EFRAG has published its Final Comment Letter in response to this Exposure Draft on 3 June 2020.
EFRAG supports the proposed amendments as EFRAG considers that the advantages of a deferral during a time of significant disruption such as the current circumstances, due to the covid-19 pandemic, would outweigh the disadvantages, as earlier application of the amendments will continue to be permitted.
The Final Comment Letter to the IASB can be found here .