IAS 8 — Change in terminology to the qualitative characteristics

Date recorded:

The IFRIC considered the comment letters received to the proposed amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors related to changes of terminology reflecting the changes in the Framework. Most of constituents were concerned that the changes to IAS 8 were proposed before the Qualitative Characteristics chapter of the Framework is published. The IFRIC members reiterated those concerns.

After a short debate the IFRIC recommended to the Board to finalise the amendments and issue them in the Annual Improvement 2008-2010 cycle in case the Qualitative Characteristics chapter of the Framework is issued before Annual Improvements publication in April 2010.

Correction list for hyphenation

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