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Survey shows mining challenged in applying IFRS 15

Insights into Mining: Adoption of IFRS 15

KPMG surveyed the disclosures of 25 mining companies on the impact of adopting IFRS 15. Results show challenges in applying the new rules.

heather cheeseman

Partner, Energy and Natural Resources

KPMG in Canada


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In the first quarter of 2018, mining companies adopted IFRS 15 Revenue from Contracts with Customers ("IFRS 15"). KPMG surveyed the disclosures of 25 global mining companies on the adoption of IFRS 15.

IFRS 15 impacted most of the mining companies surveyed in some form. There was a mix between quantitative impacts on the financial statements of mining companies and non-quantitative impacts on financial statements. While the impact of adoption was expected to be less significant for mining companies compared to industries with more complex revenue arrangements, we found there were some challenges in applying the new rules, particularly with mining companies with streaming arrangements.

Download the report to review a summary of the results.

Please note this survey publication does not necessarily represent what KPMG might consider to be industry best practice.

© 2020 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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