Annual improvements to IFRS | KPMG | GLOBAL
Share with your friends

Annual Improvements to IFRS

Annual improvements to IFRS

Final amendments issued to IFRS 12, IAS 28 and IFRS 1


Related content

KPMG IFRS Annual Improvements 2014-2016 article: Runner breaking personal best

As part of its process to make non-urgent but necessary amendments to IFRS, the IASB has issued the Annual Improvements to IFRSs 2014–2016 Cycle (AIP).

Standard Amendments made  Effective... 
IFRS 1 First-time Adoption of IFRS
  • Outdated exemptions for first-time adopters of IFRS are removed.
…for annual periods beginning on or after 1 January 2018.
IFRS 12 Disclosure of Interests in Other Entities
  • The disclosure requirements for interests in other entities also apply to interests that are classified as held for sale or distribution.
…retrospectively for annual periods beginning on or after 1 January 2017.
IAS 28 Investments in Associates and Joint Ventures
  • A venture capital organisation, or other qualifying entity, may elect to measure its investments in an associate or joint venture at fair value through profit or loss. This election can be made on an investment-by-investment basis.
  • A non-investment entity investor may elect to retain the fair value accounting applied by an investment entity associate or investment entity joint venture to its subsidiaries. This election can be made separately for each investment entity associate or joint venture.
…retrospectively for annual periods beginning on or after 1 January 2018; early application is permitted.


<p>© 2018 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.</p> <p>KPMG International Cooperative (“KPMG International”) is a Swiss entity. &nbsp;Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.<br> </p>

Connect with us


Request for proposal