Global Standards for the world economy

Tuesday 07 April 2020

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Comment on a proposal


 Request for views and Comment letters

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) each published, on 19 October 2010, documents seeking views on when new financial reporting standards resulting primarily from their work to improve and achieve convergence of International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP) should become effective.

When finalising an IFRS, the IASB will identify a date from which entities will be required to start applying the new requirements (known as the effective date). This date is often 12-18 months after the date the IFRS is published. This allows time for entities to prepare for the change and for jurisdictions to implement the IFRS into their legal or regulatory regime. The IASB also specifies in each IFRS, how the new requirements should be implemented.

The IASB is working to complete a number of projects that will lead to new IFRSs or improvements to existing IFRSs. Some of these projects are being addressed jointly with the FASB. Through this Request for Views the IASB is seeking views on how it can best help those that will be affected by the improvements to financial reporting, manage both the pace and cost of change. The FASB has also published a paper inviting comments on the same issues raised in the Request for Views.

Comment letter deadline

The request for views was open for comment until 31 January 2011.

Click here to read or submit a comment letter.


Due process documents
Request for views: Effective Dates and Transition Methods [PDF]
意見募集: 発効日と移行方法 [Japanese] [PDF]
Appel à commentaires: Dates d'entrée en vigueur et méthodes de transition [French] [PDF]

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