Accounting Standards Board The Institute of Chartered Accountants of India 18th March, 2024 |
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Exposure Draft on Business Combination - Disclosures, Goodwill, and Impairment (Proposed amendments to IFRS 3 and IAS 36) |
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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:
The proposed amendments mainly relate to:
The impairment test in IAS 36: |
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Further clarifications on this Exposure Draft may be sought by e-mail to asb[at]icai[dot]in |