The International Accounting Standards Board (IASB) has completed its Post-implementation Review of IFRS 15 Revenue from Contracts with Customers. On 30 September 2024, the IASB published the Project Summary and Feedback Statement, in which it concluded that the requirements in IFRS 15 are working as intended. In particular, the IASB concluded that:
Nonetheless, the IASB identified several matters for further consideration. The IASB will consider in its next agenda consultation matters related to:
The IASB will also gather further evidence on matters related to how an entity assesses whether the transfer of an asset is a sale in a sale and leaseback transaction in the Post-implementation Review of IFRS 16 Leases.
The IASB decided to take no further action on the other matters identified in the Post-implementation Review of IFRS 15.
FASB–IASB education meeting October 2024