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.