IFRS Alert: Updates on IAS 16 - Property, Plant and Equipment
07 November, 2022
We would like to bring to your attention some amendments of International Accounting Standard (IAS) 16 - ‘Property, Plant and Equipment’ (PP&E). The amendment to IAS 16 could have a significant impact on entities that construct material items of PP&E. Industries that are expected to be significantly impacted are mining and industrial product manufacturers. The amendment is effective for annual reporting periods beginning on or after 1 January 2022.
