Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Paper (DP), Exposure Draft (ED), etc.] seeking public comments from across the globe. The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage itself, invites comments on the consultative documents issued by the IASB. It also helps the Indian stakeholders to be aware of the preparations required for implementation of Ind AS in line with adhering to global timelines. Recently, the IASB has issued the following Exposure Draft for public comments:

• Exposure Draft on Risk Mitigation Accounting-Proposed amendments to IFRS 9 and IFRS 7

The Exposure Draft sets out the proposing amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. The IASB is proposing:

• to add a risk mitigation accounting model for companies managing repricing risk on a net basis; and
• to require a company to disclose its strategy for managing repricing risk and the effects of its risk management activities.

The IASB is also seeking feedback on the proposed withdrawal of IAS 39 Financial Instruments: Recognition and Measurement.

The above-mentioned Exposure Draft issued by the IASB, is open for public comments with last date as May 22, 2026. The downloadable version is available at: https://resource.cdn.icai.org/90018asb-aps3657-1.pdf

Comments on the abovementioned Exposure Draft may be submitted through any of the following modes.