IASB publishes proposals for amendments under its annual improvements project

The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to eleven International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently with a collection of narrow-scope amendments to IFRSs.
The proposed amendments reflect issues discussed by the IASB in the project cycle that began in 2010. These amendments meet the criteria for the annual improvements process that were approved by the IFRS Foundation Trustees in February 2011 as part of a revision to the Due Process Handbook for the IASB.
The proposed effective date for the amendments is for annual periods beginning on or after 1 January 2014, while the amendment to IFRS 3 Business Combinations and the proposed consequential amendment to IFRS 9 Financial Instruments are for annual periods beginning on or after 1 January 2015. Early adoption is permitted for all the proposed amendments.
The exposure draft can be accessed via the project website or on the ‘Comment on a proposal’ page on www.ifrs.org. The IASB request comments on the exposure draft by 5 September 2012.
For more information about the criteria used to determine whether a topic should be added as part of the annual improvements projects, visit http://www.ifrs.org/How+we+develop+standards/CriteriaAI.
Sumber: http://www.ifrs.org/NR/rdonlyres/9BADB0B8-4C1C-4EE8-85DF-5EB0EBF695A4/0/AIPPREDAnnualImprovmentstoIFRSs20102012Cycle.pdf