Annual Improvements
Project objective
Changes to standards, however small, are time-consuming for the Board and burdensome for others. The IASB has adopted the Annual Improvements process to deal efficiently with a collection of narrow scope amendments to IFRSs even though the amendments are unrelated. The IFRS Interpretations Committee reviews the proposed amendments within the annual improvements process and makes recommendations to the IASB before they are issued.
Rather than separately publishing a series of piecemeal changes, the publication of the proposals in a single exposure draft is intended to streamline the standard-setting process, with benefits both for interested parties and for the IASB.
Rather than separately publishing a series of piecemeal changes, the publication of the proposals in a single exposure draft is intended to streamline the standard-setting process, with benefits both for interested parties and for the IASB.
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Annual improvements Status
Cycle 2012-2014
The Interpretations Committee are currently reviewing issues for the 2012-2014 Annual Improvements cycle. An exposure draft from this cycle is expected to be in Q3 2013.
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Cycle 2010-2012
The Interpretations Committee are currently reviewing issues for the 2012-2014 Annual Improvements cycle. An Exposure Draft from this cycle is expected to be in Q3 2013.
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Cycle 2009-2011
In May 2012, the IASB issued Annual Improvements 2009–2011 Cycle, a collection of amendments to IFRSs, in response to six issues addressed during the 2009–2011 cycle, as its latest set of annual improvements.
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