ICAEW will be responding to the IASB and is keen to hear members’ views on this revised draft standard, published in November 2011.
The proposed legislation, which would not come into force before 2015, will impact on all reporters falling under the demands of the International Financial Reporting Standards. Although the main elements of the model remain unchanged from the earlier exposure draft on revenue recognition, some key details have been revised.
The deadline for submitting comments is 13 March 2012.
Members who wish to comment can email firstname.lastname@example.org.
For more details, visit icaew.com/revrec and for copies of the proposal, visit ifrs.org