Property developers urged to understand and review IFRS 15
KUALA LUMPUR: Property developers are urged to gather information and understand the terms and conditions of the newly issued International Financial Reporting Standards (IFRS) 15 to ease the transition and avoid complications. The IFRS 15 was issued on May 28 and will be effective from Jan 1, 2017 (early adoption is permitted). “The act is a new model that requires a new mindset.