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Saturday 25 October 2014

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 Due process steps: Annual Improvements 2012-2014 Cycle

StepRequired/
Optional
Actions
The IASB and the Interpretations Committee meetings are held in public, with papers being available for observers. All decisions are made in public session.

Required

The issues were discussed and approved for inclusion in the 2012-2014 cycle of the Annual Improvements process by the IASB in its meetings in May and October 2013.

The project webpage was updated by the staff after every Interpretations Committee or IASB meeting in which issues proposed for inclusion in Annual Improvements were discussed.

Agenda papers were posted on the website before every Interpretations Committee or IASB meeting.

Finalisation:
Due process steps are reviewed by the IASB.

Required

In this paper we are demonstrating that all the required due process steps applicable to date have been performed.

A check is performed to ensure that each amendment included in the package meets the Annual Improvements criteria.

Required

All the papers presented to the IASB included an assessment of the proposed amendments against the Annual Improvements criteria.

Drafting:
Drafting quality assurance steps are adequate.

Required

The Translations team is in the process of reviewing the draft Exposure Draft.

Drafting quality assurance steps are adequate.

Required

The XBRL team is in the process of reviewing the draft Exposure Draft.

Drafting quality assurance steps are adequate.

Optional

The Exposure Draft will be reviewed by the IASB members before posting.

Publication:
ED of Annual Improvements cycle published.

Required

The Exposure Draft will be posted on the IFRS website when published.

Press release to announce publication of the Annual Improvements ED package.

Required

The press release will be posted on the IFRS website when the Exposure Draft is published.