IASB invites comments on revised Preface
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:
- IASB Press Release (PDF 12k)
- More information.
- 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.