The existing Accounting Standards (AS) and the Indian Accounting Standards (Ind AS) are based on the IAS/IFRS issued by the International Accounting Standards Board (IASB). The International Accounting Standards Board (IASB), before issuing the new/amendments to IASs/IFRSs, issues the Exposure Drafts 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 Drafts issued by the IASB. At present the following documents issued by IASB are open for comments:
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