The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed amendments to International Financial Standards (IFRSs) as part of its Annual Improvements project.

The project provides a streamlined process for dealing efficiently with a collection of non-urgent amendments to IFRSs. These amendments meet the criteria for the IASB�s Annual Improvements process set out in the Due Process Handbook for the IASB. The criteria help decide whether a matter relating to the clarification or correction of IFRSs should be addressed using the annual improvements process.

Invitation to comment

ASB invites comments on the said Exposure Draft from the public. The downloadable version of the Document is available at: http://www.ifrs.org/Current-Projects/IASB-Projects/Annual-Improvements/Exposure-Draft-and-comment-letters-Nov-2012/Documents/ED_Annual%20Improvements_web_with%20bookmarks.pdf

Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than February 10, 2013. Comments can also be sent by e-mail at asb@icai.org or edcommentsasb@icai.org.