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IASB exposure drafts

Background

On this page, you will find the latest news and related information about exposure drafts issued by the IASB and its related bodies such as the IFRS Interpretations Committee.

 

Related news

  • Results of a limited survey on simplifications of the IASB proposals on leases

  • Apr 15, 2014

  • The European Financial Reporting Advisory Group (EFRAG) and the national standard-setters of France (ANC), Germany (ASCG), Italy (OIC) and the United Kingdom (FRC) have conducted a limited survey on the proposed simplifications to the accounting for lessees under IASB’s Exposure Draft ED/2013/6 'Leases'.

  • EFRAG draft comment letter on disclosure initiative

  • Apr 11, 2014

  • The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB’s Exposure Draft ED/2014/01 ‘Disclosure Initiative (Amendments to IAS 1)’ that was issued on 25 March 2014.

  • IASB proposes amendments to IAS 1 as result of the Disclosure initiative

  • Mar 25, 2014

  • The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IAS 1 'Presentation of Financial Statements'. The amendments aim at clarifying IAS 1 to address perceived impediments to preparers exercising their judgement in presenting their financial reports. Comments are requested by 23 July 2014.

  • AASB believes the IFRS for SMEs should be updated in line with full IFRSs

  • Mar 13, 2014

  • The Australian Accounting Standards Board (AASB) has submitted a comment letter on the IASB’s Exposure Draft ED/2013/9 ‘Proposed amendments to International Financial Reporting Standard for Small and Medium-sized Entities’. In the letter the AASB expresses disappointment that the review of the standard has not been as comprehensive as hoped.

  • We comment on the proposals for amendments under the IASB's annual improvements project (cycle 2012-2014)

  • Mar 10, 2014

  • We have published our comment letter on the IASB's Exposure Draft ED/2013/11 'Annual Improvements to IFRSs 2012–2014 Cycle' published in December 2013. We continue to believe that the Annual Improvement Project is an efficient and effective means of dealing with isolated issues within IFRSs that are leading to divergent practice. However, in respect of the 2012-2014 cycle of annual improvements, we are concerned by the proposed amendments to three of the four standards concerned.

  • We comment on IFRS for SMEs ED

  • Feb 28, 2014

  • We have published our comment letter on the IASB’s Exposure Draft ED/2013/9 ‘Proposed amendments to International Financial Reporting Standard for Small and Medium-sized Entities’.

  • We comment on the equity method ED

  • Feb 10, 2014

  • We have published our comment letter on the IASB’s Exposure Draft ED/2013/10 'Equity Method in Separate Financial Statements'. We agree with the proposal as a short-term measure but believe that certain modifications need to be made before finalising the amendments to address the issue raised by entities in certain jurisdictions that require the use of the equity method to account for its investments in subsidiaries, joint ventures and associates in preparing its separate financial statements. However, we do not agree with the consequential amendment to IAS 28.

  • IASB proposes reinstating the equity method in separate financial statements

  • Dec 02, 2013

  • The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IAS 27. With the 2003 revision of IAS 27 'Consolidated and Separate Financial Statements' the equity method was removed as an accounting option for investments in subsidiaries and associates in an entity's separate financial statements and the decision was carried forward to IAS 27 'Separate Financial Statements' in 2011. Constituent feedback to the Agenda consultation 2011 led the IASB to reconsider the option and to publish ED/2013/10 'Equity Method in Separate Financial Statements (Amendments to IAS 27)' with the proposal to reinstate the option. Comments are requested by 3 February 2014.

  • FEI proposes simplified approach to leases

  • Nov 14, 2013

  • Against the backdrop of repeated complaints about the complexity of the IASB's and FASB's joint re-exposed proposed approach for the recognition and measurement of leases, Financial Executives International (FEI) has reminded the boards of an alternative approach to lease accounting it developed in its original comment letter. FEI believes its suggested 'Display approach' would achieve the enhanced balance sheet display that is the primary goal of the leases project while at the same time avoiding the complexity of the boards' proposals.

  • We support changing the accounting for bearer plants, recommend extending scope to bearer livestock

  • Oct 28, 2013

  • We have published our comment letter on the IASB Exposure Draft ED/2013/8 'Agriculture: Bearer Plants'. We welcome the IASB’s proposed amendment to measure bearer plants using either a cost or revaluation model under IAS 16 'Property, Plant and Equipment' rather than the fair value less costs to sell model under IAS 41 'Agriculture' and support the proposed amendments, subject to a number of comments. We believe that the IASB should further consider the scope of the amendment and specifically that the IASB should perform further research, outreach and deliberation on extending the proposed amendments to bearer livestock.

  • We support a comprehensive standard on insurance contracts

  • Oct 27, 2013

  • We have published our comment letter on the IASB Exposure Draft ED/2013/7 'Insurance Contracts'. We remain fully supportive of the objectives that the Board is attempting to fulfil in this phase of the insurance contract project and believe a comprehensive standard on accounting for insurance contracts will be of great benefit to investors and will improve financial reporting given the lack of an IFRS in this area. Whilst we encourage the IASB and FASB to focus on on differences in their views during redeliberations of their respective exposure drafts on this topic, we recommend that this should not detract from the IASB's objective of finalising a standard in the near term. We also have a number of concerns about specific aspects of the proposals.

  • AOSSG Islamic Finance Working Group comments on the IASB's Leases ED

  • Oct 08, 2013

  • In an appendix to the general comment letter of the Asian-Oceanian Standard Setters Group (AOSSG), the AOSSG Islamic Finance Working Group supports the IASB's Leasing proposals but points at issues where more clarification would be needed from the viewpoint of Islamic accounting.

  • CFA Institute issues results of a credit loss and impairment survey

  • Oct 04, 2013

  • The CFA Institute, a US-based association of investment professionals with international membership, has published the results of a 'Credit loss and impairment survey', showing that investment professionals are divided on the best method for reporting credit losses and impairment.

  • IASB issues Exposure Draft of proposed amendments to IFRS for SMEs

  • Oct 03, 2013

  • The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to its 'International Financial Reporting Standard for Small and Medium-sized Entities' (IFRS for SMEs). The proposals are the result of the first comprehensive review of that standard, which is to be conducted in three year intervals. The IASB suggests smaller changes to 21 of the 35 sections. Comments on ED/2013/9 are requested by 3 March 2014.

  • We comment on the joint leases ED

  • Sep 13, 2013

  • We have published our comment letter on the joint IASB-FASB Exposure Draft on leases. We believe that conceptually the right-of-use (ROU) asset approach appropriately depicts the rights and obligations for lessees and should serve as the foundation for changes to the recognition and measurement requirements in the current lease standards. However, we have significant concerns with the approach currently included in the proposal.

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