If you are as obsessed by regulation, the main news last month was no doubt that the effective date for IFRS 15, Revenue from Contracts with Customers, has been pushed back from 1 January 2017 to 1 January 2018.

This delay was announced in two separate communications fromy the US Financial Accounting Standards Board (FASB) followed a few weeks later by the International Accounting Standards Board (IASB) due to some advised clarifications from the joint transition resource group (TRG). Since this is an ongoing process involving many different companies applying the standard, the delay shouldn’t have come as a total surprise.