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IASB publishes proposals for amendments under its annual improvements project

 03 May 2012


The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to eleven International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently with a collection of narrow scope amendments to IFRSs.

The proposed amendments reflect issues discussed by the IASB in the project cycle that began in 2010. These amendments meet the criteria for the annual improvements process that were approved by the IFRS Foundation Trustees in February 2011 as part of a revision to the Due Process Handbook for the IASB.

The proposed effective date for the amendments is for annual periods beginning on or after 1 January 2014, while the amendment to IFRS 3 Business Combinations and the proposed consequential amendment to IFRS 9 Financial Instruments are for annual periods beginning on or after 1 January 2015. Early adoption is permitted for all the proposed amendments.

The exposure draft can be accessed via the project website or on the Comment on aproposal page. The IASB request comments on the exposure draft by 5 September 2012.

For more information about the criteria used to determine whether a topic should be added as part of the annual improvements projects, please click here.


Press enquiries

  • Mark Byatt, Director of Corporate Communications and External Affairs, IFRS Foundation
    Telephone: +44 (0)20 7246 6472
  • Chris Welsh, Communications Manager, IFRS Foundation
    Telephone: +44 (0)20 7246 6410

Technical enquiries

  • Michael Stewart, Director of Implementation Activities, IASB
    Telephone: +44 (0)20 7246 6922
  • Thomas Harzheim, Practice Fellow, IASB
    Telephone: +44 (0)20 7246 0552



Related information 

  • Click here for a print-friendly PDF of this press release
  • Click here to view the exposure draft
  • Click here for more information about the annual improvements project