The IASB's post-implementation review process takes time and commitment

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. How many phases are there in a Post-Implementation Review (PIR)?

  2. How many PIRs have been completed to date?

  3. Which of the following standard has had changes resulting from a PIR?

  4. Which, if any, of the following statements is/are correct? Statement 1 - IFRS 10, 11 and 12 were issued at the same time, or Statement - IFRS 10, 11 and 12 are subject of the most recent PIR

  5. Which of the following aspects of IFRS 3 is still under discussion?

  6. Which of the following is the potential change to the impairment calculation currently favoured by the IASB?

  7. When will the IASB present its findings of the recent PIR?

  8. Which, if any, of the following statements is correct? Statement 1 - There have been no changes to IFRS 10, 11 or 12 to date, or Statement 2 - The IASB currently favour a move to annual amortisation of goodwill

  9. What was the major change to IFRS 11 from IAS 31?

  10. Which, if any, of the following statements is/are true? Statement 1 - An investment entity should not consolidate entities it controls, or Statement 2 - IFRS 10 has provided clearer guidance on when to consolidate entities