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 Amendments to the Fair Value Option for Investments in Associates and Joint Ventures - Proposed amendments to IAS 28 issued by the IASB for comments.

This Exposure Draft proposes amending paragraphs 18–19 of IAS 28 to clarify that an entity that has a main business activity of investing in particular types of assets (as set out in paragraph 49(a) of IFRS 18) is eligible to elect the fair value option in IAS 28. The IASB expects the proposed amendments to provide timely clarity for affected entities and reduce diversity in how stakeholders interpret which entities are eligible to use the fair value option in IAS 28.

The above-mentioned Exposure Draft issued by the IASB, is open for public comments with last date as April 02, 2026. The downloadable version is available at: https://resource.cdn.icai.org/91159asb-aps4327-ed-iasb2026.pdf

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