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03 May 2012

IASB: Proposals for amendments to IFRSs under annual improvements project


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The IASB published for public comment an exposure draft of proposed amendments to eleven IFRSs under its annual improvements project. The IASB requests comments on the exposure draft by 5 September, 2012.


The project provides a streamlined process for dealing efficiently with a collection of narrow scope amendments to IFRSs.

The proposed amendments relate to following IFRSs:

  • IFRS 2 Share-based Payment;
  • IFRS 3 Business Combinations;
  • IFRS 8 Operating Segments;
  • IFRS 13 Fair Value Measurement;
  • IAS 1 Presentation of Financial Statements;
  • IAS 7 Statement of Cash Flows;
  • IAS 12 Income Taxes;
  • IAS 16 Property, Plant and Equipment;
  • IAS 38 Intangible Assets;
  • IAS 24 Related Party Disclosures; and
  • IAS 36 Impairment of Assets.

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.

Press release

Exposure draft



© IASB - International Accounting Standards Board


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