The IASB published ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1) on 19 November 2021 which proposes deferral of this amendment until not earlier than 1 January 2024.
The amendments related to this project Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) were published by the IASB in January 2020. These amendments were originally effective for annual reporting periods beginning on or after 1 January 2022, with early application permitted.
In July 2020 as a result of the covid-19 pandemic, the IASB deferred the effective date of the Amendments to IAS 1 to annual reporting periods beginning on or after 1 January 2023 with early application permitted.
The Amendments to IAS 1 Presentation of Financial Statements, clarify a criterion in IAS 1 for classifying a liability as non-current: the requirement for an entity to have the right to defer settlement of the liability for at least 12 months after the reporting period.