In depth - New IFRSs for 2023

May 2023

Since May 2022 when our New IFRSs for 2022 was published, the IASB has issued the following:

  • Amendments to IFRS 16 ‘Leases’, lease liability in a sale and leaseback
  • Amendment to IAS 1 ‘Presentation of financial statements’, non-current liabilities with covenants

This publication is designed to be used by preparers, users and auditors of IFRS financial statements. It includes a quick reference table of each standard/ amendment/interpretation categorised by the effective date and whether early adoption is permitted. The publication gives an overview of the impact of the changes, which may be significant for some entities, helping companies understand if they will be affected and to begin their considerations. It will help entities plan more effectively by flagging up where new processes and systems or more guidance may be needed.

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Frida Lu

Partner, PwC China

Tel: +[86] (21) 2323 2591

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