Deloitte comment letter on the IASB's proposed requirements regarding changes in accounting policies and estimates

Published on: 16 Jan 2018

We have responded to the IASB's exposure draft ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8) that was published in September 2017.

While we agree with the Board that there is insufficient guidance in IAS 8 for those that apply IFRS to distinguish between changes in accounting policies and changes in accounting estimates, our assessment is that the proposed changes will not provide the clarity that stakeholders need to distinguish between a change in estimate and a change in accounting policy to the extent expected. Furthermore, we note that the Board plans to publish additional proposals to amend IAS 8 in relation to changes in accounting that result from agenda decisions issued by the IFRS Interpretations Committee. Rather than develop piece-meal amendments we think the Board should step back and look at the issue more comprehensively.

Download the full comment letter below.


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