Exposure Draft and comment letters—Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation (Amendments to IAS 32 and IAS 1)


On 22 June 2006 the International Accounting Standards Board (IASB) published for public comment an exposure draft of proposed amendments to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements.

The IASB and the US national standard-setter, the Financial Accounting Standards Board, are working together on a comprehensive project on distinguishing debt from equity. However, that project will take several years to complete.

There are many legitimate reasons for put features, and the IASB concluded that its constituents should not be forced to await the outcome of the long-term project. It decided to propose amendments to IAS 32 so that some instruments would be classified as equity rather than as liabilities.

The Exposure Draft was open for comment until 23 October 2006.


Comment letters are public and all comment letters received on the due process document can be accessed below.

If you have trouble finding a specific comment letter, please contact us.

Access individual comment letters in the table below or download all letters as zip file.

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