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2022 Omnibus Amendments to PBE Standards

BC17. Annual Improvements to IFRS® Standards (2018-2020), issued by the IASB in May 2020, amended IFRS 9 Financial Instruments. The amendments clarify which fees an entity includes when it applies the ‘10 percent’ test for the derecognition of a financial liability. The IPSASB subsequently amended IPSAS 41 Financial Instruments, by issuing Improvements to IPSAS, 2021 in January 2022. The NZASB amended PBE IPSAS 41 in 2022 Omnibus Amendments to PBE Standards.