IAS 27 Consolidated and Separate Financial Statements, IAS 37 Provisions,
Contingent Liabilities and Contingent Assets and IAS 19 Employee Benefits
1. This letter sets out the Accounting Standards Board’s views on the above Exposure Drafts. Our main points are set out below. Our responses to the specific questions raised in each of the Exposure Drafts are set out in Appendices to this letter.
2. The ASB continues to have strong reservations whether the proposals, overall, will lead to a significant improvement in financial reporting. In our view, the proposals introduce new concepts and we do not support the conversion of the Exposure Drafts into International Financial Reporting Standards (IFRSs) until a proper debate on these concepts has been undertaken.
See full Letter, in pdf format.
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