UKEB publishes its draft comment letter on the IASB’s ED on Financial Instruments with Characteristics of Equity: Proposed Amendments to IAS 32, IFRS 7 and IAS 1
10 Feb, 2024
The UK Endorsement Board (UKEB) has published its draft comment letter relating to the International Accounting Standards Board's (IASB's) Exposure Draft (ED) 2023/5 'Financial Instruments with Characteristics of Equity: Proposed amendments to IAS 32, IFRS 7 and IAS 1' ("the Amendments").
ED/2023/5 was published by the IASB in November 2023.
The UKEB supports the IASB’s objectives in developing the Amendments and is broadly supportive of the proposals. Whilst supporting the proposals in the ED, the UKEB highlights the importance of providing clarity and minimising the risk of diversity in accounting practice in this complex area. As such, the draft comment letter sets out a number of observations and recommendations to enhance the proposals which have been identified from analysis and outreach with stakeholders.
Comments on the draft comment letter are requested by 8 March 2024.
The draft comment letter and the invitation to comment are available on the UKEB website.
