Post-implementation Review: IFRS 15 Revenue from contracts with customers


The International Accounting Standards Board (IASB) is seeking information to assess whether the effects of applying IFRS 15 requirements on users of financial statements, preparers, auditors and regulators are as intended when the IASB developed those new requirements.

IFRS 15 establishes the principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. Applying IFRS 15, an entity recognises revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 was effective for annual periods beginning on or after 1 January 2018.

In this Request for Information the IASB sets out questions in 11 sections to cover areas of concern raised during phase 1 of the post implementation review.

Your feedback is important

Feedback will be obtained through various methods of outreach which will include the following:

  • Request for information (per the below link);
  • A survey for users of financial statements on revenue disclosures; and
  • Targeted roundtable meetings with NZ stakeholders.

Your comments will help us provide feedback to the IASB and will also help us consider whether any other actions are required by the XRB – such as providing further education material and support.

Accessing the Request for Information


Submissions to the XRB closed on 22 September 2023. Submissions to the IASB closed on 27 October 2023

Thank you to everyone who provided feedback on this consultation. The New Zealand Accounting Standards Board considered the informal feedback received at as part of developing the Board's comment letter to the IASB. 

The Board's comment letter to the IASB can be viewed below.