Exposure Draft and comment letters—Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters (Proposed amendment to IFRS 1)

On 26 November 2009 the International Accounting Standards Board (IASB) published for public comment an exposure draft on Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters (Proposed amendment to IFRS 1).

The proposed amendment to IFRS 1 would provide first-time adopters with the same relief available to those already applying IFRSs when they first apply Improving Disclosures about Financial Instruments (Amendments to IFRS 7 Financial Instruments: Disclosures) issued in March 2009.

The exposure draft was open for comment until 29 December 2009.