Friday, 2 May 2014

Sub: IASB Document for Public Comments


As you are kindly aware, that the existing Accounting Standards (AS) and the Indian Accounting Standards (Ind AS) are based on the IAS issued by the International Accounting Standards Board (IASB). The IASB, before issuing the new/amendments to IASs, issues the Exposure Draft for public comments. The Accounting Standards Board (ASB) with the aim to provide an opportunity to the various stakeholders in India to raise their concerns
at the Exposure Draft stage itself so that these concerns are appropriately addressed, invites comments on the Exposure Draft issued by the IASB. At present the following document issued by IASB are open for comments:


  1. Disclosure Initiative: Proposed amendments to IAS 1 (Last date for sending comments:  June 15, 2014The text of the Exposure Draft is available at the following links on the web-site of the Institute: 
  2. http://www.ifrs.org/Current-Projects/IASB-Projects/Amendments-to-IAS-1/ED-March-2014/Documents/ED-Disclosure-Initiative-Amendments-IAS-1-March-2014.pdf 
A copy of the abovementioned document is enclosed herewith. May we request you to kindly send your views and suggestions on the Exposure Draft on or before the above mentioned dates, to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002. Comments can also be sent by e-mail at asb@icai.in or commentsasb@icai.in.

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