IASB in its meeting held on 15 and 16 March 2016 discussed, inter alia, the following:
- Amendments to IFRS 4: Applying IFRS 9 Financial instruments with IFRS 4 Insurance Contracts – IASB decided on certain proposed amendments to IFRS 4. The other technical issues will be discussed in subsequent meetings. IASB aims to issue the amendments to IFRS 4 in September 2016.
- IFRS 3 Business Combinations, ‘Definition of a business’ – IASB expects to issue the exposure draft on proposed amendment to IFRS 3 in the second quarter of 2016. The proposed amendment would clarify how to apply the definition of a business.
- Goodwill and Impairment – IASB discussed few areas of Goodwill and impairment project. No decisions were made in this meeting.
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