Comment letters play a vital role in the IASB’s formal deliberative process.
The IASB invites public comments on all proposals that are published as a Discussion Paper, Exposure Draft, draft IFRIC interpretations and draft amendments to Interpretations.
The length of time that the comment period is open varies, however for major projects the IASB will normally allow a period of at least 120 days for comments. The comment period on draft IFRIC Interpretations is usually 60 days, but may be less in urgent cases.
To give the public timely access to the comment letters sent to the IASB, the staff regularly post the letters online. To see the current projects which are open to comment, please see the Open for Comment page.
The IASB members review comment letters that are received within the comment period and staff normally provide a summary and analysis of the comments. Summaries are posted on the relevant project page as part of IASB meeting observer notes.
Once the views received in comment letters have been considered, the IASB posts on the Website a summary of its position on the major points raised in the letters. In addition, in the basis for conclusions on each pronouncement the IASB responds to the main issues raised in the comment letters received.