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The International Accounting Standards Board (IASB) has concluded its Post-implementation Review of IFRS 15 Revenue from Contracts with Customers, finding that the Standard is working as intended and providing investors with useful information.
The IASB issued IFRS 15 in 2014 to improve the reporting of revenue. The IASB developed this Standard jointly with the US Financial Accounting Standards Board (FASB) to create a consistent approach to revenue recognition across global markets.
Feedback from stakeholders and the IASB’s own research show that the Standard provides a clear and robust framework for revenue accounting decisions.
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