Noor Nakato was a member of the IASB technical staff at the time of writing this article. The views expressed in this article are those of the author as an individual and do not reflect the views of the International Accounting Standards Board (IASB) or the IFRS Foundation. This article has not undergone the foundation’s due process. The IASB takes official positions only after extensive review, in accordance with the foundation’s due process. Copyright © IFRS Foundation. All rights reserved.