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IASB issues Request for Information for the PIR of IFRS 15
The IASB has issued a Request for Information as part of the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers.
The Post-implementation Review (PIR) is part of the IASB’s due process to assess the effect of the requirements of a standard on users and preparers of financial statements and is undertaken some time after the standard has become effective. With the Request for Information, the IASB is seeking feedback on applying IFRS 15. This is an important PIR; revenue is, arguably, one of the most important indicators of an entity’s performance.