Extractive Industries
Date recorded:
GMT+0
Location:
London
The Board discussed a tentative first draft of an exposure draft based on the principles discussed previously at the meeting. The Board agreed to move forward based on the proposed principles (by vote of 12-2). The approach does not involve developing a separate standard but rather exemptions to certain requirements of existing standards, in particular IAS 16, 36, and 38. There was general support for this proposal.