IFRS EU endorsement process [May 2023]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 5 April 2023.
FASB changed effective dates of certain standards
The Financial Accounting Standards Board (FASB) has issued a communication around the new or finalized effective dates for most recent standards. Changes allow more time to implement and adopt credit losses, leases, long-duration insurance contracts standards.
The new dates specific to selected new standards are documented and formalized in the published ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) and in the ASU No. 2019-09, Financial Services—Insurance (Topic 944).
The summary table below shows all effective date changes.
CECL, Leases, Hedging, and Long-Duration Insurance: How Effective Dates Will Change (Chart assumes calendar-year-end reporting).
Source: FASB.org
