UKEB draft comment letter on the exposure draft on lack of exchangeability

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23 Jul, 2021

The UK Endorsement Board (UKEB) has issued a draft comment letter on the International Accounting Standard Board's (IASB's) Exposure Draft ED/2021/4 ‘Lack of Exchangeability’ (proposed amendments to IAS 21).

In the draft comment letter, the UKEB supports the proposals in the IASB's Exposure Draft as they provide guidance on an area not covered by the existing standard.  The UKEB therefore believes that the proposals should reduce diversity in practice, leading to consistency and comparability of financial statements.  In its draft comment letter the UKEB also proposes some minor changes to the wording of the amendments. 

Comments on the UKEB's draft comment letter are requested by 20 August 2021.  The draft comment letter and separate invitation to comment are available on the UKEB website.

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