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Exposure Draft [December 2013]

Exposure Draft [December 2013]

Exposure Draft and Comment letters

On 11 December 2013, the International Accounting Standards Board (IASB) published for public comment an Exposure Draft of five proposed amendments to four 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 2012.

These amendments meet the criteria for the annual improvements process set out in the IASB Due Process Handbook.  The criteria help in deciding whether a matter relating to the clarification or correction of IFRSs should be addressed using the annual improvements process.

The proposed effective date for the amendments is for annual periods beginning on or after 1 January 2016, although the IASB proposes that entities would be permitted to apply them earlier.


Proposed Amendments - Exposure Draft: Annual Improvements to IFRSs 2012-2014 Cycle

The Exposure Draft was updated on Monday 16 December 2013.


Standard  Subject of amendment 
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations Changes in methods of disposal
IFRS 7 Financial Instruments: Disclosures Servicing contracts
Applicability of the amendments to IFRS 7 to condensed interim financial statements
IAS 19 Employee Benefits Discount rate: regional market issue
IAS 34 Interim Financial Reporting Disclosure of information ‘elsewhere in the interim report’

Comment letter deadline

The Exposure Draft comment period closed on 13 March 2014.

Please note: when submitting a comment letter or when communicating with the IFRS Foundation, the IASB or any of its constituent bodies, you acknowledge and accept the IFRS Foundation Written Communication policy which details how we use and process your data.

View the Comment letters.


Due process documents
Exposure Draft: Annual Improvements to IFRSs 2012-2014 Cycle [PDF]
Proyecto de Norma: Mejoras Anuales a las NIIF, Ciclo 2012-2014 [PDF]
(Recepción de comentarios hasta el 13 de marzo de 2014)
公開草案: IFRSの年次改善 2012-2014年サイクル (Japanese) [PDF]
Exposé-sondage: Améliorations annuelles des IFRS ― Cycle 2012-2014 (French) [PDF]
(Date limite de réception des commentaires : le 13 mars 2014)