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Tuesday 26 July 2016

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Conceptual Framework


Updating References Exposure Draft and Comment letters


On 28 May 2015 the International Accounting Standards Board (IASB) published for public comment a separate Exposure Draft Updating References to the Conceptual Framework (the ‘Updating References Exposure Draft’) in addition to the Exposure Draft Conceptual Framework for Financial Reporting (the ‘Conceptual Framework Exposure Draft’).  

The Updating References Exposure Draft aims to provide transition to the revised Conceptual Framework proposed in the Conceptual Framework Exposure Draft.  To achieve that, the Updating References Exposure Draft proposes to update, in existing Standards, references to, and quotes from, the existing version of the Conceptual Framework or the version that was replaced in 2010 so that they refer to the revised Conceptual Framework.

The proposed amendments are most likely to have an effect when entities use the Conceptual Framework:

  1. to develop and apply accounting policies when no Standard specifically applies to a  transaction; or
  2. to select or change an accounting policy when a Standard permits a choice of accounting policies.

Comment letters

View the Comment letters.

Due process documents
Exposure Draft Updating References to the Conceptual Framework [PDF]
Proyecto de Norma: Actualización de las Referencias al Marco Conceptual (Modificaciones propuestas a las NIIF 2, NIIF 3, NIIF 4, NIIF 6, NIC 1, NIC 8, NIC 34, SIC-27 y SIC-32) (Spanish) [PDF]
公開草案: 概念フレームワークへの参照の更新 IFRS第2号, IFRS第3号, IFRS第4号, IFRS第6号, IAS第1号, IAS第8号, IAS第34号, SIC第27号及びSIC第32号の修正案 (Japanese) [PDF]
Exposé-sondage Mise à jour des références au Cadre conceptuel (projet de modification d’IFRS 2, d’IFRS 3, d’IFRS 4, d’IFRS 6, d’IAS 1, d’IAS 8, d’IAS 34, de SIC-27 et de SIC-32) (French) [PDF]

Project contacts

Rachel Knubley
Technical Principal
Email: rknubley@ifrs.org


Daniela Marciniak
Assistant Technical Manager
Email: dmarciniak@ifrs.org