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Newsletter on amendment to IFRS 1

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02 Feb 2010

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters.

On 28 January 2010, the IASB amended IFRS 1 First-time Adoption of International Financial Reporting Standards to exempt first-time adopters of IFRSs from providing the additional disclosures introduced in March 2009 by Improving Disclosures about Financial Instruments (Amendments to IFRS 7). The amendment gives first-time adopters the same transition provisions that Amendments to IFRS 7 provides to current IFRS preparers. The amendment is effective on 1 July 2010, with earlier application permitted. This newsletter explains the amendment. Click to view IAS Plus Update Newsletter – Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters (PDF 75k). Past issues of all of our IAS Plus newsletters are Here.

 

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