The International Accounting Standards Board (IASB) has concluded its post-implementation review of IFRS 15 Revenue from Contracts with Customers, stating that ‘the standard is working as intended and providing investors with useful information’.

IFRS 15 was issued in 2014 to improve the reporting of revenue and was the first standard developed jointly with the US standard setting body, the Financial Accounting Standards Board (FASB), to create a consistent approach to revenue recognition across global markets.