The Board discussed one issue that the IFRS Interpretations Committee had recommended that the Board should include within the next Improvements to IFRSs exposure draft.
IAS 1 Presentation of Financial Statements - Comparatives in financial statements
The Board discussed the inclusion in Annual Improvements of a proposed amendment to IAS 1 to clarify the requirements that relate to comparative information. The proposed changes were tentatively approved at the Board meeting in March 2010 as part of the discussions on the Financial Statement Presentation project.
The proposed change would be to clarify that required comparative information in paragraphs 38 to 40 of IAS 1 is part of a complete set of financial statements and to make clear the minimum requirements for comparative information.
The Board tentatively decided to include the proposed amendment within the next Improvements to IFRSs exposure draft, subject to draft changes.