Comments sought on exposure drafts
Comments sought on exposure drafts
At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available.
If you would like to provide any comments, please contact Aletta Boshoff, Partner and National Leader, IFRS & Corporate Reporting and National Leader, ESG & Sustainability.
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Document |
Proposals |
Comments due to AASB by |
Comments due to IASB by |
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ED 331 Climate-related and Other Uncertainties in the Financial Statements |
Proposes adding eight illustrative examples to existing IFRS® Accounting Standards to improve the reporting in the financial statements of climate-related risks and uncertainties. Refer to our article for more information. |
4 October 2024 |
28 November 2024 |
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ED 332 Classification and Measurement of Financial Instruments: Tier 2 Disclosures |
Proposes amending AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities to require a Tier 2 entity to disclose information about financial instruments with contingent features that do not relate directly to basic lending risks. No amendments are proposed to AASB 1060 to incorporate the new disclosures for investments in equity instruments designated at fair value through comprehensive income which were to paragraphs 11A and 11B of AASB 7 Financial Instruments: Disclosures. |
11 October 2024 |
N/A |
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IASB ED Translation to a Hyperinflationary Presentation Currency – Proposed amendments to IAS 21 |
Proposes to amend IAS 21 The Effects of Changes in Foreign Exchange Rates to clarify how amounts in the financial statements of an entity whose functional currency is that of a non-hyperinflationary economy, are translated into the presentation currency of an economy that is hyperinflationary. In such cases, the closing rate at the date of the most recent statement of financial position is used to translate all amounts in the financial statements (income, expenses, assets, liabilities and equity). |
N/A |
22 November 2024 |