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Annual improvements — 2006-2008 cycle


The annual improvements project provides a vehicle for making non-urgent but necessary amendments to IFRSs.

This page deals with improvements that were included in the 2006-2008 cycle.  A number of issues from this cycle were held over to the annual improvements 2007-2009 cycle.


Current status of the project

This project has been completed.  The IASB issued Improvements to IFRSs on 22 May 2008.  Full details of the amendments are available in our IAS Plus newsletter - Improvements to International Financial Reporting Standards 2008


Project milestones

11 October 2007 Exposure Draft Improvements to International Financial Reporting Standards published Comment deadline 11 January 2008
22 May 2008 Improvements to IFRSs issued Effective for annual periods beginning on or after either 1 January 2009 or 1 July 2009

Related Discussions

  • Annual improvements

  • Jul 17, 2007

  • The IASB considered a number of potential amendments under its annual improvements process, including: IFRS 5 (subsidiary held for sale), IAS 41 (replanting obligations), IAS 36 (disclosures for value in use and fair value less costs to sell), IAS 17 (classification of leases of land and buildings), IAS 10 (dividends declared after balance sheet date), IAS 19 (plan administration costs), IAS 23 (definition of borrowing costs), IAS 34 (earnings per share disclosures) and IAS 1 (compliance with IFRSs).

All Related