IASB invites comments on revised Preface

  • IASB Exposure Draft (original) Image

08 Nov 2001

IASB is seeking comments on an exposure draft of the Preface to International Financial Reporting Standards.

The Preface to IFRS will replace the existing Preface to IAS, which was last revised in 1982 and reflects the structure and procedures of the former IASC. IASB has posted the exposure draft on its website. Click for: Comment deadline is 15 February 2002. IASB is specifically seeking views on:
  • the proposed scope of IFRSs, which is limited to profit-oriented entities
  • its proposal to discontinue the the 'black letter' distinction for matters of principle
  • whether the due process described in the Preface is appropriate
  • whether there are additional matters that should be addressed in the Preface.
This is IASB's first exposure draft. The Board had approved the ED at its July meeting.


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