BC34 Following the issue of the revised Conceptual Framework for Financial Reporting in 2018 (2018 Conceptual Framework), the Board issued Amendments to References to Conceptual Framework in IFRS Standards. In IAS 8, that document amended paragraphs 6 and 11(b). That document also amended paragraphs in IAS 1 that have been carried over to paragraphs 6A, 6E–6F, 6I–6J, and 6N of IAS 8.
BC35 Paragraph 6 of IAS 8 quoted the description of users of financial statements from the Framework. To retain the requirements of this paragraph, the Board decided to embed that description of users in the Standard itself instead of updating the reference and the related quotation.
BC36 Amendments to References to the Conceptual Framework in IFRS Standards replaced the reference in paragraph 11(b) to the Framework with a reference to the 2018 Conceptual Framework. Following this replacement, if management developed accounting policies in accordance with paragraph 11(b), management will need to revie
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