IASB Publishes Proposals for Amendments Under its Annual Improvements Project

The International Accounting Standards Board (IASB) has published to its website an exposure draft (ED) of proposed amendments to eleven International Financial Reporting Standards (IFRSs) under its annual improvements project.

The IASB uses the annual improvements project to make necessary, but non-urgent, amendments to IFRSs that will not be included as part of another major project.

The ED proposes that all of the amendments will be effective for annual periods beginning on or after 1 January 2014, except for amendments to IFRS 3 and the proposed consequential amendments to IFRS 9, which will be effective for annual periods beginning on or after 1 January 2015. Entities are permitted to early adopt all the proposed amendments. Click for IASB Press Release (link to IASB website).

You can access the ED via the the 'Comment on a proposal' page on the IASB's website. The IASB requests comments on the ED by 5 September 2012.