ED/2017/2 Improvements to IFRS 8 Operating Segments
29 March 2017
The International Accounting Standards Board (IASB) has issued Exposure Draft (ED) 2017/2 proposing improvements IFRS 8 Operating Segments.
The proposed amendments follow on from a post-implementation review of IFRS 8 that was carried out to assess whether the Standard works as intended.
The proposed improvements in the ED include amendments to:
- clarify and emphasise the criteria that must be met before two operating segments may be aggregated;
- require entities to disclose the title and role of the person or group that performs the function of the chief operating decision maker; and
- require entities to provide information in the notes to the financial statements if segments in the financial statements differ from segments reported elsewhere in the annual report and in accompanying materials.
The ED also includes proposed amendments to IAS 34 Interim Financial Reporting to require companies that change their segments to provide restated segment information for prior interim periods earlier than they currently do.
The IASB requests that comments on the ED be submitted by 31 July 2017.
Further information, including soft copies of the ED, is available from the IASB’s web site here.