The PwC global network of firms submitted comments on the IASB’s exposure draft, Revenue from Contracts with Customers – Proposed Amendments to IFRS 15. We support the IASB and FASB’s efforts to respond to concerns raised by constituents about the revenue standard. We support the proposed one-year deferral of the effective date and also support the option for entities to adopt the standard early. We also encourage the boards to finalize the upcoming amendments to their standards as soon as possible. This will reduce the risk of coming under pressure to consider an additional deferral.
See our comment letter for more on our views and specific responses to the IASB’s question outlined in the exposure draft.
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