88 - Beyond the GAAP - 04-2015

As expected, following the FASB decision to defer the
mandatory effective date of Topic 606, the IASB has now
followed in its wake. An exposure draft will shortly be
published proposing to defer the effective date of IFRS 15
to 1 January 2018. These decisions are a consequence of
the work conducted in the TRG on the implementation
difficulties of these twin standards, which will result in the
upcoming publication of proposed amendments.
The IASB has replicated the TRG model to the impairment
of financial instruments. The IFRS Transition Resource
Group for Impairment of Financial Instruments (ITG) held
the first of its quarterly meetings in April.
However, unlike the TRG, this discussion forum will focus
exclusively on IFRSs, since the IFRS 9 model differs from the
US model. It will therefore not be subject to the agenda of
US regulators in reaching its decisions.
As in the case of IFRS 15, Beyond the GAAP will keep you up
to date with the discussion held in this group.
Enjoy your reading!