NEW YORK- The International Accounting Standards Board (IASB) published on September 25, 2008 for public comment an exposure draft of proposed amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards.
The proposals address the retrospective application of IFRSs in selected areas and are aimed at ensuring that entities applying IFRSs will not face undue cost or effort in the transition process.
To view the exposure draft please visit the following website: http://www.iasb.org/NR/rdonlyres/2663F948-DBDE-453F-8950-ABD3FCF9B76B/0/ED_IFRS_1_Additional_Exemptions.pdf
The board requests comments by January 23, 2009
IASB is committed to developing in the public interest a single set of high quality global accounting standards.
For more information please visit the following website: www.iasb.org