Exposure Draft and Comment letters
The International Accounting Standards Board today published for public comment an Exposure Draft outlining proposed amendments to IAS 1 Presentation of Financial Statements.
The proposal results from one of several short-term projects under the IASB’s Disclosure Initiative.
Many respondents to the IASB’s Agenda Consultation 2011 asked the IASB to review the disclosure requirements in existing IFRS, to explore ways to improve disclosures. Consequently, in 2013 the IASB started the Disclosure Initiative, a package of several projects aimed at improving the disclosure of financial information.
The Exposure Draft proposes narrow-focus clarifying amendments to IAS 1 to address some of the concerns expressed about existing presentation and disclosure requirements and to ensure entities are able to use judgement when preparing their financial statements.
Comment letter deadline
The Exposure Draft is open for comments until 23 July 2014.
All comment letters should be submitted via the online upload page below. Please refrain from sending comment letters to IASB or IFRS Foundation individuals as this risks duplication and may cause delays in the posting of letters onto the ifrs.org website. Board and staff members have access to all comment letters submitted via the online upload page. You must be a registered eIFRS user to submit a comment letter. Registration is free, and you can register here (registration is free).
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View the Comment letters.