31. October 2018

IASB publishes amendments to IAS 1 and IAS 8

The IASB has issued amendments to its definition of material on 31st October 2018. The amendments, together with additional explanations, in IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors should make it easier for companies to make materiality judgments. Furthermore, the amendments ensure that the definition of material is consistent across all IFRS Standards.

The standard is available from the IASB only, and subject to charges. (further information)