World Accounting Report
Revising the IFRS provisions for... provisions
IASB discusses possible updates to IAS 37
The IASB is considering updating IAS 37, Provisions, Contingent Assets and Contingent Liabilities, to align the standard with the 2018 update to the Conceptual Framework. The challenge for the board will be to avoid changing current practices in what always has been and continues to be a sensitive area.