Deloitte comment letter on IASB ED/2015/1 'Classification of Liabilities'
Deloitte Touche Tohmatsu Limited has responded to the International Accounting Standards Board's (IASB) Exposure Draft ED/2015/1 Classification of Liabilities. The amendments aim at a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date.
In our comment letter, we welcome the Board's initiative in addressing an area of accounting that often presents issues in practice. However, we believe that the amendments only address a limited number of issues that arise in this context. Therefore, we believe that the Board should consider this issue more fully as part of the Disclosure initiative.
Please click to download the full comment letter below.