24/05/2023 - EFRAG seeks input from preparers on an academic survey on the effects of IFRS 15 Revenue from Contracts with Customers

EFRAG encourages preparers to provide input to an academic study on the effects of the adoptions of IFRS 15 Revenue from Contracts with Customers on management control systems. The study will be important for EFRAG's work related to the IASB's Post-implementation Review of IFRS 15. Interested stakeholders have until 1 September to share their views.

EFRAG encourages your participation in an academic study supported by EFRAG on the effects of the adoption of IFRS 15 Revenue from Contracts with Customers on management control systems. The study aims to collect information on the effects of the new standard, as well as on how the implementation requirements of IFRS 15 impact the internal production and use of information. The views of both preparers and users of financial statements will, among other aspects, assist EFRAG in better estimating the net costs of IFRS adoption.

The IASB has recently discussed the content of the request for information (‘RFI’) on the Post-implementation Review (‘PIR’) of IFRS 15 to be published around the end of June 2023. The results of the study will provide information on the costs and benefits of applying the IFRS 15 requirements.

EFRAG has been encouraging its constituents to respond to the study-related survey. With the imminent publication of the RFI, EFRAG is seeking additional responses from preparers to enhance the study's conclusions.

Please note, if you have already answered to this survey, you do not need to do it again.

The deadline to complete the survey is 1 September 2023.

A document including all possible questions for preparers (some may not apply) is available here.

To access the survey, please click on the following link. Alternatively, you can also copy and paste the URL into your browser:

https://www.surveymonkey.com/r/IFRSMCS_EFRAG

Your responses will remain strictly confidential and no results we report will contain any identifying information.

The survey works best on a laptop or a desktop.

The research involves academics from Universidad Carlos III de Madrid, Universidad Autónoma de Madrid and Universidad de Valencia. If you have any queries do not hesitate to contact Juan Jose Gomez at: juanjose.gomez @ efrag.org

Related project: IFRS 15 Post-implementation Review
Comments no later than: 31/08/2023