ICAI Invites Public Comments on Recent IASB Exposure Drafts

IASB is an independent, private-sector body that develops and approves IFRSs. Before issuing new or amended IFRS Standards, the IASB releases consultative documents for public comment. The Accounting Standards Board (ASB) of ICAI invites Indian stakeholders to comment on these documents, addressing concerns early in the international standard-setting process. Since Indian Accounting Standards (Ind AS) are based on IFRS Standards, this practice helps stakeholders prepare for timely implementation. Recently, the IASB issued the following 3 Exposure Drafts for public comments:

1. Exposure Draft on Amendments to IFRS 19, Subsidiaries without Public Accountability: Disclosures.
2. Exposure Draft on Translation to a Hyperinflationary Presentation Currency – Proposed Amendments to IAS 21.
3. Exposure Draft on Climate-related and Other Uncertainties in the Financial Statements – Proposed illustrative examples.

ICAI invites public comments on the above-mentioned Exposure Drafts issued by the IASB, with a submission deadline of September 30, 2024. Comments can be submitted through any of the following modes:

1. Electronically: Click here to submit comments
2. Email: commentsasb@icai.in
3. Postal: Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110002

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