IASB releases Exposure Draft 2020/3: Classification of Liabilities as Current or Non-current – Deferral of Effective Date

The IASB has issued an exposure draft proposing to defer the effective date of amendments to IAS 1 concerning the classification of liabilities as current or non-current. The final amendments were previously issued in January 2022 with a mandatory effective date for annual reporting periods beginning on or after 1 January 2022. This exposure draft proposes to defer the mandatory effective date to annual reporting periods beginning on or after 1 January 2023.

The IASB is proposing the deferral so soon after the issue of the amendments due to the disruptive effects of COVID-19.

The exposure draft may be accessed here.